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Plastic product maker TekniPlex rebrands

The updated brand structure unites all business units under two divisions: Healthcare and Consumer Products.

Tekni-Plex Inc., known for a wide-ranging portfolio of plastic products, has announced a rebrand that company officials say is intended to streamline its corporate identity and further leverage its name recognition.

In a Sept. 8 statement, the Wayne, Pa.-based company says the effort comes “in the midst of unprecedented growth”, as the firm has effectively doubled in size from having made 15 acquisitions in the last five years. This growth culminated in a recent reorganization of its lines of business into two primary divisions: TekniPlex Healthcare and TekniPlex Consumer Products. “The rebrand is the next market-facing step in this evolution,” TekniPlex officials said.

Uniting under the TekniPlex Healthcare division brand are legacy business units Colorite, Natvar, Dunn, JPG, TekniPlex Flexibles, TekniFilms, TekniPlex Europe, TekniPlex Gallazzi, Beyers Plastics, Lameplast, and LF of America, previously known as “Medical” and “Healthcare Packaging”; and uniting under the TekniPlex Consumer Products division are legacy businesses Dolco, TriSeal, Action Technology, MMC Packaging Equipment, Grupo Phoenix, M-Industries, Geraldiscos, Keyes, and Fibro.

“The updated brand structure unites all business units under [these] two divisions,” the company said. “The transition to a more uniform market presence will take place over time.”

TekniPlex – which makes a range of healthcare and consumer products – employs approximately 7,000 workers throughout its operations in Belgium, Brazil, Canada, China, Colombia, Costa Rica, Germany, India, Italy, Mexico, Northern Ireland, and the U.S. September 15, 2022

MTaI expects record FDI growth in MedTech space in 2022

The Foreign Direct Investment (FDI) inflow during the whole year is expected to be at a record high, even as the first six months of the year reported significant growth of FDI in the MedTech sector to $354 million in the six months from January to June 2022 as against $49 million during the same period last year. The growth in the first six months indicates, among others, that the China+1 equation might manifest for India too, said the Medical Technology Association of India (MTaI).

Pavan Choudary, chairman & director general, MTaI, said, “There is another development which is that China has moved to curb the import of some MedTech equipment like magnetic resonance imaging, computed tomography, x-rays and endoscopes by mandating local hospitals to procure products only made in China. This kind of straitjacketing of business usually makes the industry quietly step-back.

“It however, presents a unique opportunity for India to capitalize if there is an exodus of global investments from China. Though, not free from hurdles like pricing & regulatory instability, multiplicity of authorities governing the sector, India with its similar political dispensation, market systems and shared histories of peace with western countries, offers a sound alternative for investors,” added Choudary.

The overall FDI inflow to India during the first quarter of this financial year was 22,347 million dollars, a dip of 0.7% in comparison to the corresponding period’s figure of 22,525 million dollars in previous year. During this period Mauritius (2369 million dollars), Singapore (5,687 million dollars) and UAE (2,146 million dollars) were the countries with the most FDI to India. In contrast, the FDI in MedTech rose saw a colossal increase by 1,030 per cent in comparison to the previous corresponding year’s figure, which is reflective of the high potential of this sector and global investors recognition of the same.\

“In the next 6 months, we estimate that FDI would increase further and make this a record year for foreign investments in the MedTech space. One of the catalysts will be the National Medical Device Promotion Council (NMDPC) under the new charioteer- the Department of Pharmaceuticals which is genuinely trying to rid the industry of redundant burdens,” opined Choudary. September 23, 2022

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