The Bericap Group (Budenheim / Germany; www.bericap.de) is to acquire the remaining 50.1% stake in the joint venture Bericap India Private Ltd (Murbad / India) owned by its partner, Essel Propack (Mumbai / India; www.esselpropack.com).

The two companies founded the Indian jv in 2001 as Beri Essel Closures. The plant is now set to move to Pune, where Bericap has acquired a suitable site and intends to erect a production facility by the end of 2006.

Bericap, which claims to be the third largest manufacturer of plastics closures in the world, posted sales in 2005 of EUR 380m. This was a repeat of the sales increase of 10% in the previous year. The company said it was satisfied with the result, although the pressure was considerable due to fluctuations in feedstock prices and mounting energy costs. The company´s plant in Egypt that came on stream in April 2005 is developing well, it said. The intention is to expand the product range there, and to include closures for engine oil cans. The group expects sales to grow by around 9% in 2006.

Bericap operates 18 plants in 17 countries, has development centres in Germany and France and also runs mould construction companies in Poland and Hungary.