Millennium Post

Jindal Poly Films in deal to buy ExxonMobil’s BOPP business

Jindal Poly Films Ltd (JPFL), the BC Jindal group company which is a leading flexible packaging films producer, on Friday signed an agreement with ExxonMobil Chemical (ExxonMobil) to purchase ExxonMobil’s biaxially oriented polypropylene (BOPP) global films business. The transaction remains subject to necessary approvals from regulatory authorities.

JPFL chief executive officer Hemant Sharma said, 'We are excited to buy this business due to its excellent portfolio of premium products along with industry leading technology and R&D. We are equally excited to be acquiring an experienced and capable workforce. We are confident that, in combination with our existing Indian operations, we will be able to deliver long-term solutions to our customers globally.'

The agreement covers five BOPP production locations in the US and Europe. The manufacturing sites are in Georgia and Oklahoma in the US and in the Italy, the Netherlands, and Belgium in Europe.

The transaction also includes a technology centre and sales office in Rochester, New York and an office in Luxembourg. Approximately 1,500 people work in those operations.

JPEL has the world’s single largest production site for BOPP and BOPET films at Nashik. Its current combined capacity of BOPET and BOPP is 337,000 tonnes per annum.
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