Jindal Poly Films is planning to acquire poly film units in the US, Japan and Korea to gain access to advanced production technologies for its facilities in India.

Additionally, the acquisitions would strengthen its distribution in these markets, said a source close to the company.

“US is a good market for metallised and coated films. Jindal Poly Films has plans to acquire firms manufacturing the same in the US. We are still studying the markets of Japan and Korea for acquisitions,” the source added.

Europe is another critical market for Jindal. The company acquired Rexor S A S, a French company in 2003, which strengthened its metallised and coated film capabilities.

In fiscal 2004-05, the company registered net sales of Rs 542.2 crore and standalone net profit before taxes of Rs 80.1 crore. Exports accounted for about 45 per cent of total sales.

Europe was a major market for the company with a 50 per cent market share and US accounted for just 3 per cent of the total sales.

Meanwhile, Jindal Poly Films is launching its follow-on public issue aggregating up to Rs 300 crore through book building to fund its expansion. The issue opens on June 9 and closes on June 15.

From being a producer of polyester yarn in 1985, Jindal Poly Films diversified into BOPET film production in 1996. In 2003, it commenced production of BOPP films and metallised films and now plans to commence production of coated films at its Nasik plant by July 2005.

It is currently undertaking expansion of its BOPET and BOPP film capacities and is installing additional coating and metallising lines for high value-added products.

The company expects the first phase of expansion to be completed by December 2005, with additional expansion planned in 2006.