The legally binding agreement was signed on Monday, August 6, and the transaction is expected to close before the end of the first quarter of 2019, subject to regulatory approval and closure procedures.
Walter Bickel, CEO, Treofan, said the takeover will open up new global strategic directions for the company and its employees.
“I would like to thank our current shareholder M&C for its commitment and support over the last decade,” he said.
Jindal Films manufactures biaxially oriented polypropylene (BOPP) films and has production plants in India, Europe and the US.
The company and its affiliates have global sales offices to support customers in North and South America, Europe and Asia, with a workforce of approximately 3,000.