he agreement, effective May 1, 2011, grants Master Label exclusive rights to manufacture and sell CCL Label and CCL Tube products in the country of Indonesia under a licensing arrangement. Master Label has two plants located close to Jakarta with sales of approximately US$15 million and is the largest label converter located in Indonesia. The company will change its corporate identity to formats used in CCL's Label and Tube businesses as part of the licensing arrangement but will remain entirely privately owned.
Master Label and CCL Label Asia will cooperate to jointly serve many common customers and present a united buying organization to leverage procurement of materials and equipment across the region for the benefit of both companies.
Geoffrey Martin, President and CEO of CCL Industries said, “Master Label is the most respected name in the label industry in one of the largest and most important emerging markets in the world. We are pleased to bring our global customer relationships and technical know-how to this new and strategically important geographic territory for the company.”
Dharmadi Bongso and Jeniaty Satjawiguna, the principals of Master Label both added “We are delighted to have the support of the world's largest company in these fields to help build our business in our home country. I am sure together we can deliver innovation and value for our many common customers in the region.”
Master Label and CCL Label Asia will cooperate to jointly serve many common customers and present a united buying organization to leverage procurement of materials and equipment across the region for the benefit of both companies.
Geoffrey Martin, President and CEO of CCL Industries said, “Master Label is the most respected name in the label industry in one of the largest and most important emerging markets in the world. We are pleased to bring our global customer relationships and technical know-how to this new and strategically important geographic territory for the company.”
Dharmadi Bongso and Jeniaty Satjawiguna, the principals of Master Label both added “We are delighted to have the support of the world's largest company in these fields to help build our business in our home country. I am sure together we can deliver innovation and value for our many common customers in the region.”
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