Jindal Poly Films Ltd’s Board of Directors has approved the entering of Sale Purchase Agreements relating to the acquisition of Global BOPP Films Business of ExxonMobil Chemical, USA. The move will help the company to double its manufacturing capacity from 2.1 lakh tpa to almost 4.5 lakh tpa and enter newer territories and access more advanced technology. The BOPP division of the Exxon Mobil has access to technology for very “high value-added” premium films, specialised and coated films and has a significant patent portfolio, all of which are part of the deal.
According to an earlier press release, the agreement to acquire the division covers five BOPP production locations in the US and Europe- in Georgia and Oklahoma in the US and the Netherlands and Belgium in Europe. The transaction also includes technology transfer and sales office in New York and office in Luxemburg, with a total work force of 1500.