Flint Group announced the purchase of the remaining shares in Tintas Graficas Vencedor (TGV) from Corporacion Peruana de Productos Quimicos S.A. (CPPQ).
Located in Lima, Peru, TGV 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 and 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.
"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,” said Antoine Fady, CEO of Flint Group. “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."
"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,” Adhemur Pilar, president Flint Group Latin America, added. “We also warmly welcome 96 new colleagues from TGV to Flint Group.
Jose Fajardo will remain as general manager of the TGV operation, reporting directly to Nestor Porto, Flint Group’s vice president operations, Latam.