Tecnocap enters India and the Far East markets

Technocap signs joint venture with Oricon Enterprise

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Tecnocap signs JV with Oricon Enterprise
Tecnocap signs JV with Oricon Enterprise

According to the agreement, the two partner companies have set up the Tecnocap Oriental based in Mumbai, controlled at 75% of the share capital by the Tecnocap Group through the acquisition of the Metal Lug business of the Indian partner Oricon, which will hold the remaining 25% of the company.

This joint venture marks our full entry into the Indian and far Eastern markets and represents a key stage in our international growth strategy, achieved through business diversification and expansion towards high growth markets,” says Michelangelo Morlicchio chief executive, shareholder and founder of Tecnocap. “Beyond seizing the great opportunities for market growth, this alliance gives us the chance to exploit mutual synergies to operate successfully thanks to the highest quality products, services and logistics.”

Founded in Italy in 1993, Tecnocap operates in the industrial production of metal closures for glass and plastic containers, aluminium aerosol cans and bottles as well as capping machines with over 75% of its sales volume generated abroad between Europe and North America. The group expects to achieve a turnover of around €180m in the current year through eight production sites (Italy, Spain, Czech Republic, Ukraine and the US), three R&D centres and over 900 employees. Moreover, a significant increase in operating margins is expected as an effect of ongoing investments and the launch of several industrial projects for the recovery of production efficiency.

Tecnocap said it is absolutely focused on sustainability, social responsibility and digital transformation and in 2019 the company published its first integrated report for the year 2018. The joint venture in India is part of the group’s international growth strategy through a consolidated M&A policy. The company management is also evaluating further opportunities in innovative businesses and emerging market areas.

The Covid-19 pandemic led to the country-wide lockdown on 25 March 2020. It will be two years tomorrow as I write this. What have we learned in this time? Maybe the meaning of resilience since small companies like us have had to rely on our resources and the forbearance of our employees as we have struggled to produce our trade platforms.

The print and packaging industries have been fortunate, although the commercial printing industry is still to recover. We have learned more about the digital transformation that affects commercial printing and packaging. Ultimately digital will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future.

Web analytics show that we now have readership in North America and Europe amongst the 90 countries where our five platforms reach. Our traffic which more than doubled in 2020, has at times gone up by another 50% in 2021. And advertising which had fallen to pieces in 2020 and 2021, has started its return since January 2022.

As the economy approaches real growth with unevenness and shortages a given, we are looking forward to the PrintPack India exhibition in Greater Noida. We are again appointed to produce the Show Daily on all five days of the show from 26 to 30 May 2022.

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