Mauritius-based OC Holding Ltd has sold off its 70 percent stake in Oriental Containers Ltd (OCL) to its JV partner Oricon Enterprises Ltd (OEL) for a consideration of Rs 105 crore. As a result of this transaction, OCL has become a wholly-owned subsidiary of OEL. Oriental Containers manufactures a wide range of packaging products which includes crowns, plastic beverages and water closures, ROPP caps, aluminium collapsible tubes, twist off caps and metal printing. OCL has metal & plastic closures manufacturing facilities at Murbad (Maharashtra) and Goa.
Oriental Containers has a technical collaboration with Silgan Holdings Inc. USA, for manufacturing speciality caps (wide mouth caps), which are used for packaging of jams, pickles, gherkins etc. OCL supplies its products to various industries like beverages and water, FMCG, breweries and distilleries. Leading customers include Pepsi, United Spirits, United Breweries, Heineken, Diageo, Bisleri, Unilever and others.