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Cosmo First has entered a 50:50 joint venture with South Korea’s Filmax Corporation to debut in the South Korean market.
New-Delhi based Cosmo First is involved in the production of specialty films, chemicals, pet care, and packaging.
South Korea’s Filmax Corporation produces a wide range of packaging films and is also innovating with anti-virus and digital printing solutions for the packaging industry.
The deets: the two companies together will focus on producing specialty and consumer films, chemicals, and rigid packaging. Cosmo First will bring its production expertise and technical know-how while Filmax will help leverage its South Korea presence.
Zoom out: South Korea’s film packaging industry is set to reach $4.03 billion by 2030 driven by increased premiumisation, awareness on sustainability and convenience-driven lifestyle.Cosmo First aims to tap into this momentum and grow its presence in the market.
