Pliant Corporation and Nova Roll announced their intent to form a Joint Venture to produce world-class film and packaging solutions. The JV will house HQ in Moscow and will see the production of PVC film, machine grade stretch film, hand wrap stretch film, printed shrink bundling film, food sealant film and barrier film. Products will be sold in Russia and CIS countries through Pack and Service, and in the rest of Europe through Pliant GmbH. Pliant Corp. will leverage its reputation and supply chain management of Nova Roll to acquire market leadership in film and packaging solutions in Russia and the CIS.
Pliant is a US$1.1 bln producer of value-added film and flexible packaging products for various applications while Nova Roll is the largest producer of adhesive tapes, stretch film and different types of bags in Russia with sales in excess of US$83 mln.
As per a senior authority in Nova Roll, the joint venture will add to the product portfolio thereby growing the businesses rapidly in Russia and CIS.