Jindal Films has signed an agreement for the acquisition of 100% of the shares in Italy-based nylon film specialist DOMO Films Solutions Spa (DFS) from private owned group DOMO Chemicals.
DFS is one of the major European producers of nylon films (both biax-oriented BOPA and cast extruded CPA) for flexible packaging in food, pharma, medical and other industrial sectors.
The acquisition will boost Jindal Films’ know-how, capabilities, and presence in the pharma, medical and other high end flexible packaging segments, combining biax-oriented (BOPA) and Cast extruded (CPA) nylon films portfolio with the existing full basket of polyolefin-based films.
Overall, this means the group will become a full-service provider globally, further expanding the range of plastic films for the flexible packaging converting value chain.
Manfred F. Kaufmann, CEO of the Jindal Films Europe, says: “DFS is a profitable addition to the growing group. As an established European player in both BOPA and CPA films, DFS will complement very well our existing European footprint and capabilities. Together we will continue to serve the European and global flexible packaging industry.”
Yves Bonte, CEO of DOMO confirms: “We believe that Jindal Films is the right successor to further develop a sustainable future for DFS in the flexible packaging industry and its customers. This is also a logic step for DOMO the concentrate in its competence area of polymers and engineered materials.”
Attilio Annoni, Managing Director of DFS, adds: “Combining the two companies’ leadership in sustainability will enable the Jindal Group to stay ahead of customer and regulator expectations even more effectively, further minimizing their environmental impact. DFS currently operates at a progressively improving/reducing carbon footprint, sourcing 100% of renewable energy and developing with up-stream chemistry recycled/recyclable nylon resins for its green product range NYLEEN™.”
Closing is subject to a number of regulatory authorizations and is expected around end Q1 2021.