Jindal Poly Films and ExxonMobil Chemical (ExxonMobil) are progressing well with preparations to transfer ExxonMobil’s BOPP Films Business to Jindal Films Business. The regulatory clearances have been recently completed in all applicable jurisdictions. ExxonMobil and Jindal are focused on the most efficient way to transfer the Films Business to Jindal, including taking steps to facilitate a smooth transition for Films employees, customers, and vendors.
Further, based on a readiness review recently conducted, ExxonMobil and Jindal are committed to achieving a change in control at the end of August, 2013.
Jindal Poly Films is a part of the diversified B C Jindal group. The group has interests in flexible packaging, photographic products, thermal power generation and steel products. It has the world’s single largest site for production of BOPP and BOPET films at Nasik, India. Its current combined capacity of BOPET and BOPP is 337,000 tons/annum and its annual sales turnover as on March 2012 was $452 million.
