Elopak ASA

Regulatory Filings • Apr 25, 2022

Elopak ASA: Elopak is in the final stages of negotiating a Joint Venture agreement in India

Elopak ASA: Elopak is in the final stages of negotiating a Joint Venture agreement in India

Elopak and GLS are in the final stages of agreeing on a long-term strategic partnership to deliver sustainable packaging solutions to consumers across India.

(25 April 2022) Elopak and GLS are in the final stages of negotiating a joint venture in which the two companies will each have 50% ownership. The JV entity, GLS Elopak, will leverage the JV partners’ respective expertise, assets, and networks to capitalize on significant consumer demand in the region. Elopak’s equity contribution to the joint venture is expected to be ~16 mEUR in 2022, to fund the investments in a packaging material production facility outside New Delhi. First sales and production expected to be in Q2 2022.

The JV aligns with Elopak’s growth strategy and our ambitions to meet the rising demand for sustainable packaging solutions. It also aligns with the pursuit of new business opportunities in new and existing markets across both fresh and aseptic markets and driving the plastic to carton conversion.

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About Elopak

Elopak is a leading global supplier of carton packaging and filling equipment. The company’s iconic Pure-Pak® cartons are made using renewable, recyclable and sustainably sourced materials, providing a natural and convenient alternative to plastic bottles that fits within a low carbon circular economy.

Founded in Norway in 1957, Elopak was listed on the Oslo Stock Exchange in 2021. Today it employs 2,600 people and sells in excess of 14 billion cartons annually across more than 70 countries.

Elopak is a UN Global Compact participant with a platinum EcoVadis rating and has been carbon neutral since 2016. For more information, go to elopak.com or follow us @Pure_Pak on Twitter and @Elopak on LinkedIn.

About GLS

GLS Group, established in 1994, is a multi-business conglomerate with businesses in various industries such as Flexible Packaging, Liquid packaging, Inks, Adhesives, Aluminum Foils, Blown Films, BOPET Films and Warehousing.

GLS Group, over the years, has emerged as one of India’s largest and most-integrated packaging organizations. For more information, visit www.glsind.com or connect with @GLSGroupIndia on LinkedIn.