Page 41 - IACC Newsletter November 2012 Issue no. 7

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Ruby Macons and its converting customers, in addition to our own box plant in Pune, MWV will offer a wide range of
packaging solutions that address market and consumer needs in India, including innovative solutions similar to those
we've developed in Brazil for fresh produce, industrial products and consumer goods markets.”
“We are pleased to welcome Ruby Macons to the MWV family and are very excited about the profitable growth
opportunities this acquisition creates,” concluded Luke.
Ruby Macons is the market leader in corrugated packaging materials in India, producing greater than 150, 000 tons
annually with significant capacity expansion underway. Founded and managed by the Nathani family since 1986, Ruby
Macons’ revenues were approximately $80 million over the last 12 months with double digit operating margins and
strong return on capital. The company has achieved greater than 20 percent average growth over the last several
years and is poised for significant future profitable growth through the expansion plans underway.
“From the beginning, the Nathani family and Ruby Macons’ management has built a strong business delivering high
quality products to customers and value to all our stakeholders,” said Mr. Alibhai Nathani, chairman of Ruby Macons.
“After extensive conversations with MWV, through which we came to understand their global leadership, outstanding
technical capabilities and strong long-term commitment, we chose them as the right partner to take Ruby Macons to
the next level. Our single-most focus while making this decision was to ensure that the business we’ve built with
passion over the last two decades will be in the right hands to ensure long term sustainability for all our stakeholders.
Our family will continue to be involved in the business, and we are excited about partnering with MWV.”
Ruby Macons’
offices and manufacturing facilities, including its two mills containing three paper machines, are located
in and around the industrial city of Vapi, Gujarat, 180 kilometers north of Mumbai. These assets will remain in full
operation and become an important part of MWV’s industrial packaging and global manufacturing platform. All Ruby
Macons employees will become MWV India employees and the Ruby Macons management team will remain in place,
including Mr. Ashraf Nathani, managing director, Ruby Macons, who will become vice chairman and president of the
Mr. Ashraf Nathani said, “I am excited about leading MWV’s paperboard operations in India, and I know that we will
build a very strong presence in the market. The products, relationships and quality leadership of Ruby Macons will be
leveraged together with the strong MWV technical and management teams. I am convinced that together we will
have the vision, resources and ability to succeed in a market like India.”
The acquisition of Ruby Macons expands MWV’s presence in industrial packaging in India, which today includes a
manufacturing facility in Pune making rigid, humidity-resistant corrugated packaging for fresh fruits and vegetables,
consumer goods, household appliances and pharmaceuticals. Upon closing, the combined business will report
through MWV’s Industrial packaging segment. MWV has a broader packaging business in India - led by managing
director Gautam Sircar and headquartered in Pune, India - delivering innovative packaging solutions for a variety of
consumer goods markets, including Healthcare, Beauty & Personal Care, Home & Garden, and Beverage. It also
markets specialty chemicals for asphalt paving and other markets.
“Our plan is to continue to drive aggressive growth in this business as part of our broader India and global growth
plans,” said Peter C. Durette, senior vice president and chief strategy officer for MWV, who oversees the company’s
business and growth in India. “We see significant potential for high quality, innovative solutions in India, from
corrugated and consumer packaging to specialty chemicals that can help solve significant challenges in India and
improve the lives of consumers. We are developing insights into the unique unmet needs in the local marketplace
and bringing solutions that will benefit customers and consumers in India.”
Domino's India aims to be largest franchise outside US in 2 years
Jubilant Foodworks, which operates Domino's Pizza chains in the country, has said it plans to become the largest
franchise for the US brand outside its home market in the next two years. "We are already the fourth largest Domino's
franchise outside the US now, but growing at the fastest rate in the past five years. In the next two years we will be the