Alcan Global Pharmaceutical Packaging has acquired the Chakan flexible packaging plant from Associated Capsules Ltd. in India.
The acquisition expands Alcan's presence in the Indian pharmaceutical market. The Chakan facility has annual sales of $3.6 million and employs approximately 100 people. The integration into the Alcan Packaging group is expected to be completed in early 2009.
"The acquisition of this facility advances our leadership position in pharmaceutical flexibles through growth in emerging markets," said Ilene Gordon, president and chief executive officer, Alcan Packaging.
"Chakan is a well equipped plant with dynamic people and an asset base that will complement our current product portfolio," said Michael Schmitt, president of Alcan Global Pharmaceutical Packaging division. "The expertise with local pharmaceutical companies will be an excellent addition to our organization, increasing our ability to service global and regional customers while maintaining the high quality standards they have come to expect from us."