NEWS

Omori India Made a Wholly Owned Subsidiary - Acquisition of Stock Held by Previous Owners

September 21, 2015

With financial assistance from the Development Bank of Japan (President: Masanori Yanagi; hereafter referred to as "DBJ"), Omori Machinery Co., Ltd. (President: Toshio Omori; hereafter referred to as "the Company") acquired all stock in Omori India, an Indian subsidiary of the Company, for it to become a wholly owned subsidiary.

In September 2013, the Company purchased 80% of the stock in Multipack Systems (now, Omori India) for the main purpose of entering the Indian market. This company held a large share of India's cookie and biscuit market, and even now is involved in the sale of packaging machinery largely to major companies both inside and outside India.

With the transfer of sophisticated technology from Japan following the buyout, sales of packaging machinery with a never-before-seen level of performance and quality commenced.
With improvements in living standards and economic growth, the demand for packaging machinery largely centered around the packaging of food products is set to undergo a boom in India in the future. In order to respond to this increase in demand in both a swift and flexible manner, the Company moved to acquire all remaining stock in this company with the consent of Omori India's former owners to turn the company into a wholly owned subsidiary.

DBJ also provided a portion of the funding required to acquire the remaining stock in recognition of the Company's initiative to bolster its competitiveness through overseas expansion.

The remaining stock held by the former owners was acquired through a special purpose acquisition company in Japan in the same manner as the initial stock acquisition.
Looking ahead, we will share our corporate philosophy of "The pursuit of Total User Satisfaction, through the creation of innovative production and packaging systems. The development of Team OMORI towards being Global leader in our field, contributing to the well-being of colleagues and communities - locally, regionally, nationally and Worldwide." company-wide in striving to further contribute to the improvement of packaging in India.

Omori India Overview

Company name

Omori India Pvt.

Location

Vadodara, Gujarat, India

Industry

Manufacturing and sale of packaging machinery

Established

1996

No. of employees

Around 160