Essel Propack has acquired 100 percent stake in its European joint venture Essel Deutschland Germany. This will be done with Lamitube Technologies, a wholly owned subsidiary of the company in Mauritius, acquiring 75.1 percent stake in the European firm.
Company hopes to double its tubes capacity in the country, says Ashok Goel, Vice-chairman and Managing Director of Essel Propack.
Post this sale, the share of Eni spA group in Hindustan Oil Exploration Company will come down to 22 percent, says P Elango, the company's managing director.
Watch the interview of Ashok Goel, VC & MD at Essel Propack with Latha Venkatesh & Sonia Shenoy on CNBC-TV18, in which he spoke on the outlook of the company.
In an interview with CNBC-TV18‘s Ekta Batra and Anuj Singhal, Essel Propack vice chairman and MD Ashok Goel spoke about the state of the business and the outlook going forward.
Ashok Goel, vice chairman & managing director, Essel Propack says the company‘s foray into cosmetics is helping bring in value growth too.
Ashok Goel, vice chairman & managing director, Essel Propack says the company's Poland and Mexico loss-making units have now turned around and it (Poland biz) is likely to post a profit of USD 1 million.
The Indian rupee has hit a fresh two-year low as it fell to 48 against the dollar in early deals on Wednesday. In an interview to CNBC-TV18, R Chandrasekar, president, Essel Propack spoke about the impact of rupee's decline on Indian companies.
R Chandrasekar, President of Essel Propack joins CNBC-TV18 to discuss what the tie-up of the company, to provide packaging material to Colgate, means in terms of revenues and the plans ahead for the company.
According to Ashok Goel, vice chairman and managing director of Essel Propack, "RPLL, REL are perennially sick companies, and the merger will assure the companies get oxygen to survive. Also, this will add 160 million tubes capacity, which ensures that Essel Propack is on growth path."
Ashok Goel, VC and MD of Essel Propack, in an interview with CNBC-TV18's Latha Venkatesh and Gautam Broker, spoke about the recent happenings in his company and the road ahead.
R Chandrasekar, President of Essel Propack, in an interview with CNBC-TV18’s Latha Venkatesh and Gautam Broker, spoke about the overseas operations in Egypt which faced problems due to the civil disturbances.
In an interview with CNBC-TV18, Ashok Goel, VC and MD of Essel Propack said,"We would be seeking price increase in the range of about 3% - 3.5% from our customers."