MeadWestVaco to buy Gujarat-based Ruby Macons from Alibhai Nathani
20 Oct 2012
MeadWestVaco Corp (MWV), a US-based packaging solutions provider, yesterday struck a deal to buy Gujarat-based Ruby Macons Ltd from Alibhai Nathani and his family, for an undisclosed amount.
''The acquisition of Ruby Macons extends MWV's leadership in the global packaging industry and strengthens the company's presence in India,'' said John Luke, Jr., chairman and CEO of MWV.
Founded in 1986 by technocrat entrepreneur Alibhai Nathani, Vapi-based Ruby Macons is India's leading producer of corrugated packaging materials.
The company initially supplied paper machinery and consultancy services to small paper mills projects, and was only supplying paper machines, technical consultancy services to paper industry during 1986 to 1988.
In 1988, Ruby Macons set up its own paper mill with a modest capacity of 20 TDP, and since then, the paper mill division has witnessed a 10-fold capacity increase from 20 TPD to 425 TPD.
In 1999, Ruby Macons set up the DNH Maschinenfabrik Division, which is the first company in India to develop the slotted screen basket.
