Wadco has signed a joint venture with MeadWestvaco. Brazil-based MWV has purchased 51% equity in the Indian company. The joint venture will extend the corrugated packaging design, manufacturing and d technology capabilities of Wadco and MWV to Indias local fresh produce market.
Mumbai-based Wadco has been manufacturing boxes for the last eight years at its plant at Ranjangaon in Maharashtra. It has two flexographic printers besides a raft corrugating and post-press machines.
According the agreement, MWV will oversee wadco operations and the current owner of Wadco, Pankaj Wadhwa, will continue to run the company as managing director. Wadco will begin manufacturing MWVs rigid, humidity-resistant agri-produce corrugated packaging and applies it to the Indian produce market and other markets it currently servers.
"Wadcos business has grown tremendously," says Wadhwa. "The demand for value-added corrugated packaging in India is expanding, and our partnership with MWV will take our business to even greater heights as we collaborate on new capabilities that allow uis to meet the growing needs of our customer. MWVs reputation and global experience make them an ideal partner. "