The OYSTAR Group is, in fact, Hassia Packaging India’s parent company, as a company statement mentioned.
After the takeover, Hassia Packaging India has been renamed as IMA Dairy & Food Holding. IMA will develop and produce packaging machines for cosmetics, pharmaceuticals, coffee, tea, food and beverage, and dairy industries.
With the OYSTAR Group’s acquisition, IMA group’s turnover has seen an increase of more than one billion euro.
It’s interesting to note that Hassia offers integrated and customized solutions for flexible packaging, which can be used across a varied range of applications.
The company offers high speed automation for packaging dairy, food, agro-chemical, washing powder, hair oil, shampoo etc.
In the Indian sub-continent, Hassia India has a strong presence. It exports 30% of its products to international markets like the Southeast Asia, Africa and the SAARC countries.
Hassia Packaging India Aims to Increase its Exports Soon
The IMA Group is trying to transfer high-end technologies to Hassia India so that export products can be manufactured locally. The CEO of the group has said that they would prefer to focus on India compared to China because the local food sector companies offer a big market here.
IMA expects that Hassia Packaging India will double its exports in the near future. The growth on a year-to-year basis is expected to be as high as 20%.
By 2017, the company is predicted to become an export-oriented organization with almost 50% of its profits coming from exports.
Based on the orders already booked in 2015, Hassia India anticipates reaching a growth of 400% this year.
The company’s M.D – K Ravi said that they have already registered the real figures of 2014 in the first four months of 2015.
He said that as they start getting better price realisation from exports, they will be able to able to subsidise prices for the Indian market.
For Hassia Packaging, this acquisition will strengthen its presence across the global packaging industry.
Apart from its anticipated business expansion to West Asia, Middle East and South Asia, this move will also facilitate the introduction of newer technologies in Hassia, which would help it meet its future export goals.