GBC print finishing sold to Indian film giant

India-based Cosmo Films makes its way to Australia with the purchase of GBC's commercial print finishing business.

The acquisition is not yet complete and expected to be finalised in the second quarter of 2009, depending on closing and compliance conditions. Cosmo Films is a manufacturer of BOPP and thermal lamination films and reported global sales of $140 million.

Chairman and CEO of Cosmo Films, Ashok Jaipuria, believes that adding GBC – which has offices in equipment in Europe, North America, Japan and the Pacific – will enhance Cosmo Film’s standing in the marketplace.

“The combination of Cosmo Films and the GBC commercial print finishing business presents an exciting opportunity,” he said.

“By maximising the strengths of both organisations, we will have a vertically integrated, financially robust organisation with broad management, sales and technical expertise. The combination will allow us to better service our customers and bring in greater value to all stakeholders.”

Grant Churchill, national manager for specialty print and finishing solutions at GBC Australia, was unable to shed much light on how the deal would affect the local market.

“GBC has a well established and excellent sales, technical service and distribution system covering Australia,” he said.   

“This network is a big advantage to our customers and will be strengthened by this new partnership with Cosmo Films.”