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Jindal Films, an international supplier of innovative and sustainable films for the flexible packaging industry, has signed an agreement to acquire 100 of the Italian-based nylon film specialists DOMO Films Solutions Spa from private group DOMO Chemicals.
% shares
.
DOMO Film Solutions is one of Europe's leading nylon film producers, mainly producing nylon films (including biaxially oriented BOPA and cast extrusion CPA) for flexible packaging in the food, pharmaceutical, medical and other industrial sectors
.
The acquisition will enhance Jindal Films' technology, capabilities and market presence in the pharmaceutical, medical and other high-end flexible packaging sectors, combining a combination of biaxially oriented (BOPA) and cast extrusion (CPA) nylon films with the existing full range of Polyolefin-based film combined
.
Manfred F.
Kaufmann, CEO of Jindal Thin Films Europe, said: "DOMO Thin Film Solutions is a rewarding investment in the continuous growth of the group
.
Yves Bonte, CEO of DOMO Chemicals, confirms: "We believe that we were right in choosing Jindal Films to further provide DOMO Films Solutions and its customers with a sustainable future in the flexible packaging industry
.
Attilio Annoni, general manager of Domo Thin Film Solutions, added: "Combining the two companies' leadership in sustainability will enable Jindal to better exceed the expectations of customers and regulators and further reduce its environmental impact.
.
Completion of the transaction is subject to a number of regulatory authorizations and is expected to close around the end of the first quarter of 2021
.