Control Print Limited to form packaging JV in India with V Shapes SRL

Control Print Limited has signed a joint venture agreement with Italy-based V Shapes SRL to create a new joint venture (JV) company in India to undertake the business of contract filling and packaging services, sale and marketing of the packaging machines and packaging materials among others.

As per the terms, Control Print Limited will have a 90% share in the packaging business JV for a consideration of INR 10 crores. V Shapes SRL will hold the remaining 10% stake in exchange for its technical expertise and intellectual property to Control Print Limited for advancing the new packaging business.

Control Print Limited is engaged in manufacturing permanent coding and tamper-proof marking systems, while V Shapes SRL is a provider of packaging solutions.