BOSCH Packaging Technology and Klenzaids Contamination Controls Pvt. Ltd. are planning a joint venture in India.
The plan is for Bosch to acquire a 49 percent share in Klenzaids, an owner-managed company that produces processing, packaging, and clean-room technology for the global pharmaceutical industry. By setting up the joint venture, the two partners aim to extend their global reach, particularly in liquid pharmaceuticals and packaging machines for clean-room environments.
The Klenzaids and Bosch Packaging Technology product portfolios complement each other across the board. In particular, the joint venture will allow the companies to better satisfy Indian customers’ growing demand for complete lines from a single source. Based in Mumbai, Klenzaids generated sales of around six million euros in 2013 and employs some 350 people. Bosch Packaging Technology, which last year achieved global sales of 1.1 billion euros and employs some 5,600 associates worldwide, already has a presence in India through its Verna location in the state of Goa. The joint venture is set to be headquartered in Mumbai and is expected to employ some 380 associates. The plan is subject to the approval of the antitrust authorities. The purchase price for the shares acquired by Bosch was not disclosed.
Commenting on the agreement, Dr. Steffen Berns, president of Bosch India, said, “Following the inauguration of our manufacturing unit in Verna, this is the second milestone for our packaging technology business in two years. I am extremely confident that this new partnership will further strengthen our product portfolio and market reach. The activities of both parent companies dovetail perfectly, and our pharmaceuticals unit as well as our customers will benefit immensely from this joint venture.”