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03 APRIL 2021 AL CIRCLE

ANG Lifesciences India acquires aluminium foil among others printing-packing firm under Corporate Insolvency Resolution Plan

EDITED BY : RUPANKAR MAJUMDER 1MINS READ

On 3rd April 2021, ANG Lifesciences India Ltd announced its acquisition of printing and packaging firm, Mansa Print & Publishers Ltd, which has undergone corporate insolvency resolution plan, as part of its strategic vertical integration.

ANG Lifesciences India acquires printing-packing firm of aluminium foil

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Mansa Print & Publishers Ltd, located at Baddi in Himachal Pradesh, is involved in the printing and packaging business covering manufacturing of packaging products including aluminium foil among other itineraries.

ANG Lifesciences India (ALI) said in a regulatory filing: “In addition to this, it has a separate stationery division with high-tech machinery giving good business opportunity.”

ANG Lifesciences India acquires printing-packing firm of aluminium foil

ANG Lifesciences India did not reveal the value of the acquisition, but it stated: "Acquired above infrastructure at a very economical cost under Corporate Insolvency Resolution Plan."

The reasons behind the acquisition as per ALI: “It is a strategic backward integration move for the company since it is expanding at a fast pace in the pharma segment. The packaging cost in formulation segment is almost 15-20% of the cost of the product."

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The filing added: “It will be helpful for the company to optimise costs and ensure timely availability of packaging products for formulation business.”

"The acquisition holds a good potential for growth and profitability in the Baddi region, being a pharma hub," it said.


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EDITED BY : RUPANKAR MAJUMDER 1MINS READ

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