Velvin Group, one of the leading manufacturers of paper based sustainable packaging solutions company in India and Rengo Japan have officially announced their strategic joint venture.

“Rengo, a global leader in paper and corrugated box manufacturing, and Velvin, with a profound understanding of the domestic market, are poised to create powerful synergies through their collaboration,” said Vincent Mathias, managing director of Velvin Group.

The decision to join forces in a joint venture for the upcoming corrugation unit in Cheyyar, Tamil Nadu comes after considering the potential benefits and synergies that could be harnessed by working together. Due to Rengo's 30% equity participation, the company will change its name from ‘Velvin Containers’ to ‘Velvin Rengo Containers’. The company is currently constructing a corrugated plant with the aim of starting partial operations in March 2024.

Rengo was founded in 1909 and is headquartered in Osaka, Japan. The company together with its subsidiaries, manufactures and sells paperboard, corrugated boxes, folding cartons and flexible packaging in Japan and in other parts of the world. Rengo today operates 198 plants across 29 locations in Asia, Europe and North America.

One of the primary objectives of this joint venture is set to enhance the market reach of both companies. By combining their distribution networks, Velvin Group and Rengo Group aim to make their packaging solutions more accessible to a global audience. This partnership is aimed to spark research and development initiatives, leading to the creation of cutting-edge sustainable packaging solutions that will meet the demands of the market.