Punjab attracts first Danish FDI- Denmark based company to invests in Punjab; acquiring Mohan Fibre
Kanwar Inder Singh/ royalpatiala.in
Denmark based packaging company Hartmann has invested in Punjab by acquiring Mohan Fibres with an initial investment amount of Rs. 125 crores. Ernesto, President South America & Asia Hartmann Group called upon Vini Mahajan, Chief Secretary, Govt of Punjab. Ernesto informed that looking at the ecosystem and investment climate, they have purchased the existing plant of Mohan Fibres in Punjab and shared their future investment plans to expand their footprints in the state. The company also plans to explore the market of fruit and vegetable packaging in the state. Chief Secretary assured that full support will be provided to the company from state government and Invest Punjab.
Hartmann founded in 1917 in Denmark, is the world’s leading manufacturer of moulded fibre egg packaging with approximately 2200 employees, the leading manufacturer of fruit packaging in South America under the name Sanovo Green pack, and the world’s largest manufacturer of technology for producing moulded fibre packaging. It sells moulded fibre packaging to the markets all over the world with Europe, South America and North America as its key markets. Hartmann’s moulded fibre egg packaging is certified to be compostable in industrial composting plants. It also offers FSC MIX certified and carbon neutral egg packaging.
Mohan Fibre Products Limited was a leading provider of moulded fibre packaging for fruits, poultry and food service industry which was based in District SAS Nagar. This acquisition is a strategic move from Hartmann to enter into the very attractive Indian market where the Denmark based company sees a lot of growth and opportunities with plans to expand their current capacity. The company with its plans will add to the value chain in Food Processing sector where Punjab is already a leader. Invest Punjab will facilitate the company in granting all the regulatory clearances. Invest Punjab is the Investment Promotion Agency of Punjab state government and it’s a one stop office for granting all kind of regulatory clearances under one roof. With its continuous efforts and hard work, Invest Punjab has positioned itself as one of the “TOP PERFORMERS” among 26 investment promotion agencies of different states in India
Punjab has been the Launchpad for many MNCs to enter into very attractive and aggressive Indian market. With Hartmann coming to Punjab, Denmark becomes 11th country to come to Punjab whose units have invested in the state in last 4 years. This is a validation of the congenial investment climate and policy framework.
January 21,2021
