Siegwerk, one of the leading global providers of printing inks and coatings for packaging applications and labels, has announced the signing of a joint venture agreement with Rotopack, a leading supplier in the printing and packaging industry in Pakistan. The jointly founded new company Siegwerk Pakistan Ltd will start its business in Q2 of 2022.
The joint venture contract was officially signed on October 13, 2021, in Karachi, where the new company will be located to serve customers across the country. "As the 5th most populated country in the world, Pakistan is a strategically important market for us,” explained Dirk Weissenfeldt, Vice President Business Unit Flexible Packaging EMEA at Siegwerk. "The joint venture partnership with Rotopack allows us to not only significantly strengthen our footprint in South Asia but also to benefit from Rotopack’s domestic market know-how and network.” By joining forces, both partners combine their know-how and expertise adding significant value for the domestic market in Pakistan.
The partners have already found the future location of their joint venture in the Karachi area. The construction activities are currently under way, and it is expected that Siegwerk Pakistan Ltd can start operations on April 1, 2022. The production will focus on inks and coatings for flexible packaging applications first. Going forward, the production will also be expanded to other packaging segments, including water-based and UV products. The partners are currently assembling a local team of local experts and specialists for starting operations in spring next year. The new team members will be trained by Siegwerk experts in Turkey and Germany over the next few weeks.
"Since more than 10 years, we deliver high-quality products and solutions to our customers throughout Pakistan that create value and competitive advantage, while positively impacting the world we live in,” explained Aamir Hirani, Founder of Rotopack. "With the joint venture partnership with Siegwerk we can now build on our expertise helping to make Siegwerk’s high-quality inks and coatings available to the market as well.” Driving the development of innovative and sustainable packaging solutions is the ambition of the new joint venture company. "We are happy to have found a partner with such deep-rooted experiences in the domestic printing and packaging market like Rotopack, who also matches our values and vision,” added Weissenfeldt.
The partners have already introduced their plans to selected local customers and representatives of the domestic printing and packaging market during a signing ceremony on October 13, 2021.