Siegwerk, an inks and coatings specialist for packaging applications and labels, has signed a joint venture agreement with Rotopack, one of the leading suppliers in Pakistan's printing and packaging industry. The jointly founded new company Siegwerk Pakistan 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 serve customers across the country.
‘As the fifth most populated country in the world, Pakistan is a strategically important market for us,’ said Dirk Weissenfeldt, vice president for flexible packaging in 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.’
The partners already have found the location of the joint venture in the Karachi area. The construction activities are currently underway, and it is expected that Siegwerk Pakistan will start operations on April 1, 2022.
The production will focus on inks and coatings for flexible packaging applications. Going forward, the production will also be expanded to other packaging segments, including water-based and UV products. The partners are currently assembling a team of local experts who Siegwerk experts will train in Turkey and Germany over the next few weeks.
‘For more than ten years, we have delivered high-quality products and solutions to our customers throughout Pakistan that create value and competitive advantage while positively impacting the world we live in,’ said 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.’
‘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.