Paxar acquires joint venture in India

Paxar acquires joint venture in India
Paxar Corporation has formed Paxar India Pvt Limited by acquiring the remaining 50 per cent of a joint venture located in Bangalore, India. The company is a full service provider of apparel identification products, including woven, printed and bar code labels, and merchandising tags for retailers and apparel customers manufacturing in India. Paxar India's facilities also include service bureau operations, in addition to sales and marketing. In 2004, the business generated approximately $10 million in sales. Rob van der Merwe, president and chief executive officer of Paxar, stated, ‘We believe the growth opportunities in India are substantial. Completing this acquisition strengthens Paxar's position as a leading provider of identification solutions in one of the world's fastest growing apparel markets. We look forward to servicing our customers sourcing in India by being close at hand to support them as their business needs dictate.’