Packaging materials maker GLS forms JV with Norwegian co Elopak

Gurugram-based packaging materials manufacturer GLS has roped in Norwegian firm Elopak to form an equal joint venture collectively investing 35 million euros to help augment sustainable packaging solutions in the domestic market.

The joint venture GLS Elopak will leverage the respective expertise, assets and networks of GLS and Elopak to capitalize on the significant consumer demand in the country, GLS said in a statement.

GLS Elopak, which will be headquartered at Gurugram, will manufacture and distribute sustainable and safe-packaging solutions across the globe.

The company will cater to both fresh and aseptic segments with an industry-agnostic approach including sectors like dairy, plant-based drinks, juice, water and liquor, it added.

GLS is into flexible packaging, liquid packaging, inks, adhesives, aluminum foils, blown films, Bopet films and warehousing and is one of the largest and most-integrated packaging companies and has a manufacturing base in Rewari in Haryana.

Founded in Norway in 1957 and listed on the Oslo Stock Exchange, Elopak is a global supplier of carton packaging and filling equipment. Its cartons are made of renewable, recyclable and sustainably sourced materials. It employs 2,700 and sells over 14 billion cartons annually across 70 countries.

GLS Elopak will be the only producer of fibre-based packaging for liquid food in Haryana and going forward it will introduce Elopak's products (fresh cartons, aseptic cartons) and complementary solutions in the domestic market, GLS director Arpit Goyal said.

Thomas Körmendi, chief executive of Elopak said one of the key targets of the JV is to add value and contribute to sustainability.

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