AptarGroup buys India-based moulder

AptarGroup Inc. acquired dispensing-closure licensee TKH Plastics Pvt. Ltd. in a South Asia regional expansion. In buying the Hyderabad, India, injection moulder, AptarGroup paid about $17 million in cash and assumed debt of $1 million. TKH, which had annual sales of about $8 million, began serving the Indian personal-care, food and beverage markets in 2000, collaborated over the years with AptarGroup and became a licensee of the firm's dispensing-closure products in 2006. AptarGroup views India as a growing market, prompting expansion of the company into the country. Separately in Mumbai, India, AptarGroup is completing a clean room-equipped pharmaceutical-device facility that is expected to be fully operational at the beginning of 2012.
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ACE 17 Purecontrol TF