According to the agreement, the two partner companies have created a new company, Tecnocap Oriental Pvt., based in Mumbai, controlled at 75% of the share capital by the Tecnocap Group through the acquisition of the Metal Lug business of the Indian partner Oricon, which will hold the remaining 25% of the Company.

“This joint venture marks our full entry into the Indian and Far Eastern markets and represents a key stage in our international growth strategy, achieved through business diversification and expansion towards high growth markets”, comments Michelangelo Morlicchio CEO, shareholder and founder of Tecnocap who continues: “beyond seizing the great opportunities for market growth, this alliance gives us the chance to exploit mutual synergies to operate successfully thanks to the highest quality products, services and logistics.”

Source: Packaging World

About Tecnocap

Tecnocap is a multinational, active in the metal lug business. As a global metal packaging manufacturer, it is specialized in metal closures for glass jars and plastic containers. Here, they are the third biggest producer of closures for food, baby food and beverage packaging. The Group is also emerging as a global leader for integrated packaging solutions, i.e. aluminum monobloc aerosol cans and aluminum bottles for some of the world’s best-known consumer brands in food, beverages, spirits, cosmetics, nutraceuticals, pharmaceuticals, industrial and household products.

Our commitment goes beyond providing the best quality product. We help our clients succeed by enhancing the identity of their brand and preserving the safety of their product. We work as partners and advisors to our clients, improving existing products and developing new designs & engineering solutions

Corporate website: www.tecnocapgroup.com.