Wintek Flexoprints based in Bangalore India, has been acquired by Hyderabad based ITWSignode, ITW India Ltd., a subsidiary of the multibillion dollar fortune 200 global industrial products company ITW is head quartered in Illinois, USA
RVS Ramakrishna lead, ITW Signode in India is the leading Industrial Packaging solutions provider with manufacturing facilities at Rudraram-Andhra Pradesh, Surangi-UT of Dadra & Nagar Haveli, Pune – Maharashtra and Rudrapur - Uttarakhand. ITW Signode’s comprehensive packaging solutions include products and services. Product offering encompasses strapping, wrapping, taping, and protective packaging consumables, tools and equipment to apply the consumables, and parts. A wide range of services include on - site packaging, on - site maintenance, preventive maintenance, AMCs, field engineering, package testing and packaging design, audit and consultancy. ITW Signode is a part of the almost 100 years old ITW or Illinois Tool works, USA.
ITW has proven strategies of increasing market penetration with product innovations, extending current products to new industries and acquiring businesses that improve customer offerings and provide the foundation for continued success in the 21st century. They have 825 decentralized business units in 52 countries employing approximately 60,000 people
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| In picture the winners! Hameed, Helmut Schreiner, Isidore Leiser, Gururaj and others |
Wintek started as a pre-press house from humble beginnings and later diversified into label printing. Hard work and persistent efforts of partners Gururaj Ballarwad and K M Shahul Hameed paid dividends. Soon Wintek became the leader in producer of high quality labels in South India. Continuous investments were made by them on an ongoing basis not only to add capacities but also to enhance their decorative capabilities for producing state of art labels. They have won numerous awards for excellence not only in India but also at the global level. While Gururaj confirmed the news of having been acquired by ITW and that he would continue to be with Wintek, however he did not wish to give more details of the financial deal. He left that for ITW to disclose at the appropriate time.
I will update this news once I have the more news and have talked to ITW.
Written by Harveer Sahni, Managing Director Weldon Celloplast Limited, New Delhi India February 2012
This is a big event in this industry. currently industry is fragmented and entry of a big player with financial strength may change rules of the game...
ReplyDeleteThis is a big deal in the Indian label industry. When one company acquires the other, then there are huge changes to be seen in the future. Lets see this deal as a positive growth prospect for the Indian market.
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