Indian manufacturer of laboratory glassware and microwavable kitchenware, Borosil Glass, has acquired a 60.3% stake in Nashik-based Klasspack.
Klasspack is a manufacturer of glass ampoules and tubular glass vials used as primary packaging materials by pharmaceutical companies. It has a manufacturing facility in Nashik, Maharashtra.
“Our investment will help Klasspack to ramp up facilities and production to give our current pharmaceutical customers a high quality choice for sourcing their pharmaceutical packaging needs,” said Borosil MD, Shreevar Kheruka.
It acquired the majority stake on July 29, 2016.
The move would help the firm to tap the primary glass packaging market of pharma majors, a company statement said.
“Klasspack will enormously benefit from Borosil’s brand equity and market reach, while Borosil will be able to leverage Klasspack’s manufacturing set-up and product development capability to expand offerings and augment its product portfolio.”