Ufp industries acquires controlling equity position in ficus pax, marking ufp's first industrial presence in india

Grand rapids, mich., nov. 22, 2021 (globe newswire) -- ufp industries (nasdaq: ufpi) today announced that its affiliate, ufp global holdings ltd., has acquired 70 percent of the equity in ficus pax private limited (ficus pax), a leading producer of industrial packaging in india, for approximately $13.5 million usd. headquartered in bangalore, india, ficus pax manufactures mixed-material cases and crates, nail-less plywood boxes, wooden pallets and other packaging products through 10 facilities located in major industrial markets throughout southern india. ficus pax also owns a majority stake in wadpack, a manufacturer of corrugated fiber board containers, corrugated pallets and display solutions. the company had trailing 12-month sales through august 2021 of approximately $39 million usd. sandeep wadhwa, chairman and managing director of wadpack, will now lead ficus pax as managing director over the consolidated group.
UFPI Ratings Summary
UFPI Quant Ranking