PPL acquires Webtech Labels

Further strengthening its position in the packaging segment, The Paper Products Ltd (PPL), India has acquired 51 percent share in the equity of Webtech Labels, a leader in the Indian pressure sensitive label sector. A majority owned subsidiary of Huhtamaki Oyj of Finland, PPL manufactures a wide range of flexible packaging materials. With annual sales of approximately Rs 9,000 million, PPL is known for its technology in specialty flexible packaging and labeling materials in the Indian market. With annual sales of approximately Rs 750 million, Webtech Labels has been specializing in manufacturing high-end pressure sensitive labels, especially for the pharmaceutical and lubricants industry

The board of directors of Webtech Labels has been reconstituted. A member of the original promoter family, Amar Chhajed who has a proven track record in the PS label business, will continue as the managing director. Showing his happiness about this strategic tie up, Suresh Gupta, executive chairman of The Paper Products Ltd, and executive vice president, Flexible Packaging Global, Huhtamaki Oyj, conveyed, “I believe this will be value enhancing for both companies and will set new standards for the flexible packaging and labelling industry in India.”

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