Treofan to acquire Max Speciality Films

Max India Limited, one of India’s leading multi-business conglomerates, is selling its Biaxially Oriented Polypropylene (BOPP) Film division, Max Speciality Films to Treofan, a German global technology leader for BOPP film. Treofan, which develops and sells BOPP films in over 90 countries around the world has already production facilities in Europe and the Americas, and has offered an Enterprise Value of Rs 540 crore to acquire 100% stake in Max Speciality Films. The offer from Treofan is subject to financing, a material adverse change clause, confirmatory due diligence, execution of mutually satisfactory sale and purchase agreements, management retention, formal approval from Treofan’s Advisory Board and receipt of regulatory and corporate approvals.

Max Speciality Films division has a BOPP capacity of approx. 50,000 tonnes per annum (TPA) and is one of the leading Indian players in development and manufacture of specialty BOPP films, including multilayer white opaque films, ultra high barrier metalised plain films and leather finishing foils. Its products are used by leading players in food packaging, overwrapping, consumer products, labels and textile industries.

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