Montreal’s Intertape Polymer to Acquire 55% of India’s Capstone Polyweave

Montreal-headquartered Intertape Polymer Group Inc. (IPG), an industrial and retail films and fabrics manufacturer, has entered an agreement to acquire a majority stake in Capstone Polyweave Private Ltd. (Capstone), a newly formed enterprise in India, which is expected to lead to a Capstone greenfield manufacturing facility in Karoli, India. The partnership will provide IPG with a globally competitive supply of woven products to better service and grow its woven products business. IPG has agreed to acquire a minimum of a 55 per-cent interest in Capstone for approximately US$13 million, and will be partnering with the current shareholders of Capstone.

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