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Nova Roll and Pliant Announce Russian Joint Venture.

Published on 2008-07-21. Author : SpecialChem

Moscow, Russia -- Pliant Corporation and Nova Roll announced their intent to form a Joint Venture to produce world-class film and packaging solutions. This business will be headquartered in Moscow, Russia and will produce the following value-added films:
  • PVC film
  • Machine grade stretch film
  • Hand wrap stretch film
  • Printed shrink bundling film
  • Food sealant film
  • Barrier film

Products will be sold in Russia and CIS countries through Pack and Service, and in the rest of Europe through Pliant GmbH.

Vjacheslav Astashin, President and CEO of Nova Roll said, "Our businesses continue to grow rapidly in Russia and the CIS. Partnering with Pliant, a global packaging leader, further accelerates our business plans and expands our product portfolio. Both Pliant and Nova Roll have begun the implementation of this Joint Venture in Moscow and have created the working group."

Harold Bevis, President and CEO of Pliant said, "The combination of our technologies and manufacturing know-how with the prestige and local commercial relationships of Nova Roll will allow us to become a market leader for these products in Russia, CIS and surrounding countries. This announcement is the culmination of several years of relationship building and market development. The Russian market for packaging is large and growing and our mutual goal is market leadership. We are proud to be aligned with the Nova Roll team."

Nova Roll is the largest producer of adhesive tapes, stretch film and different types of bags in Russia with sales in excess of $83 Million (USD). On a production area of 150,000 square feet, Nova Roll operates 5 blown and 2 cast extrusion lines, 9 flexographic printing presses, 7 slitters, 3 coating lines and 18 bag machines. Nova Roll employs 430 people.

Pliant is a $1.1 Billion (USD) producer of value-added film and flexible packaging products for personal care, medical, food, industrial and agricultural markets. Pliant has 21 manufacturing plants in 5 countries, 185 film extrusion lines, 35 printing presses, 75 bag machines, 75 patents and a world-leading R&D program. Pliant employs approximately 2,900 people globally.

Legal Notice Regarding Forward-Looking Statements:

The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected result.

Source: Pliant Corporation


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