LUXEMBOURG - Flint Group has purchased the remaining shares in Tintas Graficas Vencedor (TGV) from Corporacion Peruana de Productos Quimicos S.A. (CPPQ).
TGV, located in Lima, Peru, is a joint venture between Flint Group (49.95 percent Flint Group GmbH) and CPPQ. TGV produces and sells liquid packaging inks (solvent and water based) and resells narrow web, flexographic plates and sheet-fed inks.
The acquisition provides Flint Group with the ability to build market position in the liquid packaging film and foil and water-based ink market in Latin America’s Andean region. It also gives Flint Group the opportunity to further grow narrow web and plate sales in this region along with sheet-fed inks.
Antoine Fady, CEO Flint Group commented, "This latest acquisition continues in our strategy of developing a market-leading position in Latin America where we aim to be the print consumer supplier of choice to the packaging and printing industry. I am delighted to welcome the customers and employees of TGV to Flint Group and look forward to continuing to build the successful TGV business in Peru and its neighboring markets."
Jose Fajardo will remain the General Manager of the TGV operation reporting directly to Nestor Porto, Flint Group - VP Operations, Latam.