Emmbi Polyarns acquires 25-per cent stake Czech firm Global Bag sro
22 Jun 2010
Mumbai: Maker of woven sacks, FIBC (jumbo bags), PP bags and other woven polymer-based products, Emmbi Polyarns Limited, today said it had acquired a 25-per cent stake in Czech firm Global Bags sro, from Austria's Silagro Gmbh, for an undisclosed sum.
The Czech firm markets of agricultural storage equipments and packaging from an Austrian company Silagro Gmbh, held a 50-per cent stake in Global Bags prior to Emmbi's acquisition.
The two companies have entered into an exclusive marketing arrangement to market Emmbi's products in non-English speaking East European countries like the Czech Republic, Slovakia and Poand.
This acquisition will help Emmbi explore newer export markets for its products in agricultural packaging.
"Not only would this acquisition boost our exports but also create more opportunities in packaging for agriculture products," Makrand Appalwar, MD, Emmbi Polyarns.
Emmbi started the production of FIBC (jumbo bags) geo-textiles, canal liners, pond liners, flexible tanks, car covers, lumber cover, PP fibrillated stitching yarn, container liners, protective irrigation system, etc back in 2006. I has a plant at Silvassa.
The company has a SME 2 rating from CRISIL.
