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| Exchange Disseminated Time | | Paper Products Ltd has informed BSE that the Company has acquired 51% of equity shares of Webtech Labels Private Limited, a private limited Company in the business of pressure sensitive labels with an annual potential turnover of approximately INR 750 mln., for a consideration of INR 377 mln., in an all cash deal. The Company has a total outstanding debt of approximately INR 262 mln. This acquisition is expected to benefit both companies positively - support the position of the Company in the packaging industry further while giving a larger market access to Webtech Labels Private Limited due to the present position of the Company in the Indian flexible packaging industry. |
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