MaxVIL, Japan's Toppan partner to form joint venture

NEW DELHI: Max Ventures and Industries Ltd ( MaxVIL) has forged a partnership with Japan's Toppan Printing for its speciality films business.

As part of the partnership, Toppan will invest approximately Rs 200 crore through a combination of primary and secondary share issuance, MaxVIL said in a release.

The board MaxVIL has approved the induction of Toppan Printing Co Ltd, Japan (Toppan) as a joint venture partner, it said.

"The new partnership with Toppan, a multinational corporation with interests in information and communication, living & industry and electronics, will help strengthen the speciality films business and serve as a testimony of MaxVIL's commitment to expanding its manufacturing business," it said further.

Toppan is a global buyer of BOPP products -- thermoplastic polymer used for packaging, labelling and graphic application.