Jindal Poly Films enters into pact with ExxonMobil Chemical

27 Oct 2012 Evaluate

Jindal Poly Films has entered into an agreement with ExxonMobil Chemical (ExxonMobil) to purchase ExxonMobil's BOPP Global Film business. The agreement was signed on October 26, 2012. The transaction remains subject to necessary approval from regulatory authorities.

The agreement covers five BOPP production locations in the US and Europe. The manufacturing sites are in Georgia and Oklahoma in the US and in Italy respectively, the Netherlands, and Belgium in Europe. The transaction also includes a technology centre and sales office in Rochester, New York, and an office in Luxembourg. About 1500 people work in those operations.

Jindal Poly Films is a part of Rs 3,000 crore B C Jindal Group, a 50 year old industrial group offering a wide range of products. The company is the largest manufacturer of BOPET and BOPP films in India. It produces BOPET film, BOPP film, metalized BOPET film and BOPP film, coated BOPET and BOPP films, polyester chips (for captive consumption in the BOPET film).

Jindal Poly Films Share Price

925.85 -35.00 (-3.64%)
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