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
“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