The Hindu Business Line : Stokvis Tapes acquires Prostick Adhesives

The Netherlands-based Stokvis Tapes, one of the world's largest adhesive tape suppliers with 15 manufacturing facilities across Europe and China, has taken over the Pune-based Prostick Adhesive Tapes Pvt Ltd, for an undisclosed sum. The 100 million company, which caters to the automotive, medical, telecom and electronics segments among others, will invest $2.5 million in the India operations in the next 18 months across its new facilities in Pune and Chennai.

Investment plans

"Stokvis Tapes will invest approximately $2.5 million in India during the next 18 months in order to develop Stokvis-Prostick to become a leading player in the tape converter business in India," Mr Satish Khare, co-founder and now chief of the company's Chennai operations, said.

The Pune facility will now serve the region's large automotive manufacturers, ancillaries, printing and packaging industry. Stokvis Tapes is simultaneously setting up a dedicated manufacturing operation in Chennai for Nokia's manufacturing site to begin with. Stokvis Tapes is one of the leading suppliers worldwide to cell phone manufacturers and their first tier suppliers.

The India operations, meanwhile, will also leverage the Netherlands-based company's global footprints. Stokvis Tapes is firming up plans to tap markets in Malaysia, Thailand and Singapore, according to Mr Gurudas Nuklar, co-founder of Prostick.

Prostick profile

Prostick Adhesive Tapes, founded in 1998, started its operations by trading in speciality tape products and over a period of 8 years, has become one of the largest tape converters in India, catering to the automotive, electronics and printing & packaging industries. Today, Prostick has 3 adhesive coating lines for manufacturing speciality tapes, and world-class converting machinery for further processing. Mr Wim Noorlander, CEO, and Mr Paul Veltman, CFO, Stokvis Tapes Netherlands, were present for the signing of the agreements with Mr Gurudas Nulkar and Mr Satish Khare, Directors of Prostick Adhesive Tapes.