In a move to expand its presence
in Eastern India with a larger footprint, Shilp Gravures has acquired 100%
shares in Etone India, based in Kolkata. With this it has become a wholly
subsidiary of Shilp Gravures from August 2019. With this acquisition, Shilp
Gravures not only has been able to expand its geographical reach to the eastern
part of India with added production facilities, but has become the second
roller manufacturing facility in India apart from having pre-press and sales
offices in Delhi, Mumbai and Chennai.
“The Etone India acquisition is
a strategic move by Shilp,” said Ambar Patel, managing director, Shilp Gravures.
“Shilp had very little presence in Eastern India. This was due to the long
distance to service from our roller manufacturing facility at Rakanpur near Ahmedabad
in Gujarat. Now we have remedied the situation,” added Patel.
Established in 1989, this is the
second acquisition for Ahmedabad-based Shilp Gravures. In 2009, Shilp acquired
a flexo trade shop to venture into the flexography segment. India’s pioneering
and undisputed leader in electro-mechanical engraving with a substantial market
share in the flexible packaging industry, Shilp Gravures produces engraved
gravure rollers and photo-polymer plates for flexo printing for the narrow-web
and wide-web segments of the flexible packaging and label industry at its
Ahmedabad based factory located in Western India. With the acquisition of
Etone, Shilp will now have an additional manufacturing unit in Eastern India
thereby raising its capacity by almost 20%.
Speaking about the Etone India
acquisition, Patel said, “Etone and Shilp have had a very long standing working
relationship going back to almost a decade and more as it used to supply
specialty rollers - and we have enjoyed a very healthy relationship. There were
many things common as far as dealing with its customers, commitment to quality
and services and the vision to grow the business was concerned. We are sure,
Shilp with its long standing goodwill and commitment to gravure and flexo
industry along with Etone’s dedicated team will put the Eastern gravure and
flexo market on to fast track."
