Page 42 - Platics News June 2022

BUSINESS NEWS

Upm Ra atac To Acquire German Coating Company Amc Indian Oil Posts High-
er Net Pro t Rs 24,184
Crores

ndian Oil has registered its high-
Iest ever Revenue and highest
F innish label material company a stronger product portfolio to our cur- ever Net Pro t e company re-
ported Revenue from Operations of
UPM Ra atac has agreed to ac- rent and new customers.” e deal is
Rs7,28,460 crores for FY 2021-22 as
quire Germany-based coating specialist expected to close in the third quarter of
compared to Rs 5,14,890 crores in
Advanced Methods of Coating (AMC) this year subject to regulatory approvals
previous nancial year. e Net Prof-
for an undisclosed sum. AMC’s busi- being given. Following the acquisition,
it for current nancial year is higher
nesses include Intercoat, which focuses UPM Ra atac plans to expedite AMC’s
at Rs 24,184 crores as compared to
on coatings for pressure-sensitive lmic growth and realise signi cant synergies
Rs 21,836 crores during previous
label stock, as well as Viscom/Graph- for the brand. AMC shareholders and nancial year mainly on account of
ics materials, Global Notes and Print board members Wolfgang Leichner higher re ning margins and higher
Inform, which specialise in remov- and omas Schwerdtfeger said: “We inventory gain during current pe-
able self-adhesive stationery products. are pleased to see AMC continuing to riod. e Revenue from Operations
e company operates two produc- grow within the UPM Ra atac family. is Rs 2,06,461 crores in Q4 2021-22
tion sites in Kaltenkirchen and Hage- “We strongly believe that by combin- as compared to Rs 1,63,733 crores in
now, Germany, and generated €110m ing our knowledge and capabilities the corresponding quarter of previ-
($118.07m) in sales during the latest with UPM Ra atac’s experience, we ous nancial year. e Net Pro t for
nancial year. It has more than 300 can provide even stronger bene ts to the fourth quarter of FY 2021-22 is
employees. rough this acquisition, our customers and a successful future Rs 6,022 crores as compared to Rs
UPM Ra atac aims to strengthen its for our employees. In March last year, 8,781 crores in the corresponding
position in Central Europe and add UPM Ra atac received independent quarter of previous nancial year
new self-adhesive product lines to its certi cation from SCS Global Services which is due to lower petrochemical
product o ering. UPM Ra atac execu- for its Vanish PCR labelling materials, margins and exchange losses incurred
tive vice-president Antti Jääskeläinen which contain 90% post-consumer re- during current quarter. Re ecting on
said: “AMC’s capabilities and business cycled (PCR) content or more. e pol- the stellar operational performance
portfolio are an excellent t for us. “ e yethylene terephthalate (PET) labels in of the Corporation, Chairman, Indi-
anOil, Mr S M Vaidya said " is year,
combination with UPM Ra atac’s ef- the Vanish PCR range are designed to
IndianOil has notched up the high-
cient supply chain and sales and dis- help brands enhance their appearance
est ever Revenue from Operations
tribution network will enable further while supporting the circular economy.
and as well as highest ever Net Pro t.
growth. “We look forward to o ering

42 PLASTICS NEWS June 2022