2195 Flint Group Purchases Tintas Graficas Vencedor TGV
Flint Group Purchases Tintas Graficas Vencedor ('TGV')
(Luxembourg 16tht December, 2013) Flint Group has today announced the purchase of the remaining shares in Tintas Graficas Vencedor (TGV) from Corporacion Peruana de Productos Quimicos S.A. ('CPPQ')
TGV located in Lima, Peru, is a joint venture between Flint Group (49.95% Flint Group GmbH) and CPPQ. The main activity of TGV is the production and sales of Liquid Packaging inks (solvent and water based) as well as the resale of Narrow Web, Flexographic Plates and Sheetfed Inks.
This acquisition to fully own TGV provides Flint Group with the ability to build market position in the liquid packaging film & foil and water-based ink market in Latin America’s Andean region. It also gives Flint Group the opportunity to further grow narrow web and plate sales in this region along with sheetfed inks.
Antoine Fady, CEO Flint Group commented, 'This latest acquisition continues in our strategy of developing a market leading position in Latin America where we aim to be the print consumer supplier of choice to the Packaging and Printing industry. I am delighted to welcome the customers and employees of TGV to Flint Group and look forward to continuing to build the successful TGV business in Peru and its neighbouring markets.'
Adhemur Pilar, President Flint Group Latin America said, 'TGV will fit our regional strategy to grow packaging inks in Latam and provides us with a manufacturing structure to service global and local customers in the Andes region. We also warmly welcome 96 new colleagues from TGV to Flint Group.
Mr Jose Fajardo will remain as General Manager of the TGV operation reporting directly to Mr. Nestor Porto, Flint Group - VP operations, Latam.