Bosch Packaging Technology Forms Joint Venture in India

Bosch Packaging Technology and Klenzaids Contamination Controls Pvt. Ltd. are planning a joint venture in India. Both companies signed agreements to this effect on November 28, 2014 with a plan for Bosch to acquire a 49% share in Klenzaids, an owner-managed company that produces processing, packaging, and cleanroom 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 cleanroom environments.

Based in Mumbai, Klenzaids generated sales of around EUR 6 million in 2013 and employs some 350 people. Bosch Packaging Technology, which last year achieved global sales of EUR 1.1 billion 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 people. The plan is subject to the approval of the antitrust authorities. The purchase price for the shares acquired by Bosch was not disclosed.

Source: Bosch Packaging Technology

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