Century Ultrapack forms JV with Austria's Greiner Packaging

The New Delhi-headquartered Century Ultrapack, owned by the Bajaj family, has joined hands with the Austrian plastic packaging manufacturer Greiner Packaging to form a joint venture Greiner Packaging India Pvt Ltd in India. 

Century Ultrapack provides disposable food packaging materials (plastics cups & containers) to dairy and fast-food industries. The JV is expected to help Greiner Packaging, who will have majority ownership in the venture, to broaden its market position in Indian food packaging industry. 

On the heels of its expansion in Turkey last year, Greiner Packaging is thus taking another step toward the growing Asian markets. “We see a very high development and growth potential in India, where food packaging is concerned. It is important for us to take a leading role early on in the region. This expansion allows us to systematically pursue our globalisation strategy and gives us even more opportunities to respond to the wishes of customers from abroad,” said Axel Kuhner, chairman of Greiner Group. The acquisition reflects the company’s medium-term strategy to grow beyond the borders of Europe in the future.