October 30, 2013
Exxon Mobil has a new owner as of Oct. 1.
Jindal Poly Films Limited (JPFL) has completed the acquisition of ExxonMobil’s Global business of BOPP Films. The company had signed the Framework Agreement a year ago and the Sale Purchase Agreement in the month of May, 2013, according to a press release from Jindal.
The transaction covers five BOPP production locations in the U.S. and Europe. The manufacturing sites are in Georgia and Oklahoma in the United States, and in Italy, the Netherlands, and Belgium in Europe. The transaction also includes a technology center and sales office in Rochester, New York, and an office in Luxembourg. This acquisition makes JPFL one of the leading manufacturers of flexible packaging films globally with a combined capacity of approximately 445,000 tons per annum for BOPP films.
JPFL is a part of the diversified B C Jindal group. The group has interests in flexible packaging, photographic products, thermal power generation and steel products. JPFL has the world’s single largest site for production of BOPP and BOPET films at Nasik, India. Its current combined capacity of BOPET and BOPP, in India, is 337,000 tons per annum.