News Broadcasting
Essel Propack acquires Arista Tubes, UK
NEW DELHI: Not content with making a mark on the media scene, Subhash Chandra is busy expanding his other businesses too.
Essel Propack, world’s largest manufacturer of laminated tubes, has acquired the UK-based Arista Tubes, a leading manufacturer of plastic seamless tubes.
Essel Propack, having manufacturing facilities in 11 countries with 17 plants, completed the acquisition through Lamitube Technologies Limited, Mauritius, a wholly owned subsidiary of Essel Propack.
Essel Propack, at present, has a plastic seamless tubes plant at Wada, India. With this acquisition, Essel Propack, which has 30 per cent global market share in laminated tubes, has begun its consolidation of seamless plastic tubes business in global arena.
Announcing the acquisition in London, Essel Propack vice-chairman and MD Ashok Goel said a few hours ago, “More than the acquisition of Arista Tubes, I term this as an acquisition of knowledge in plastic tubes technology, entry into new markets and new opportunities. This, indeed, is a quantum leap for Essel Propack, aimed at broadening our market offering which will infuse an accelerated growth.”
Dwelling on the logic behind the acquisition, Essel Propack COO R Chandrasekhar said, “Arista Tubes is a perfect match. The two organisations have complementing strength vis-à-vis the knowledge of technology and products manufactured. Global reach of Essel Propack coupled with Arista Tubes’ knowledge will make us a force to reckon with in the plastic tubes business as well in the global arena.”
Arista Tubes, UK, founded in 1998, manufactures plastic seamless tubes for cosmetics, personal care, toiletries and pharmaceutical segments. The company has 30 per cent market share in the UK and Ireland and caters to the speciality packaging needs of globally reputed cosmetics, personal care and pharmaceuticals majors in Europe. The Company has an integrated manufacturing facility at Stevenage, located 30 miles north of London.
Rabo India Finance Private Limited, Mumbai, Deloitte Haskins & Sells, Mumbai, and ANS Law Associates, Mumbai were an integral part of the acquisition team.
News Broadcasting
BBC to cut up to 2,000 jobs in biggest overhaul in 15 years
Cost pressures and leadership change drive major workforce reduction plan
LONDON: BBC has unveiled plans to cut up to 2,000 jobs, roughly 10 per cent of its global workforce, in what marks its biggest downsizing in 15 years.
The announcement was made during an all-staff meeting led by interim director-general Rhodri Talfan Davies, as the broadcaster moves to tackle mounting financial pressures and reshape its operations.
Between 1,800 and 2,000 roles are expected to be eliminated from a workforce of around 21,500. The cuts form part of a broader plan to save £500 million over the next two years, aimed at offsetting rising costs, stagnating licence fee income and weaker commercial revenues.
In a communication to staff, BBC interim director-general Rhodri Talfan Davies said, “I know this creates real uncertainty, but we wanted to be open about the challenge,” acknowledging the impact the move would have across the organisation.
The restructuring comes at a time of leadership transition. Former director-general Tim Davie stepped down earlier this month, with Matt Brittin, a former Google executive, set to take over the role on May 18, 2026.
While some cost-cutting measures are being implemented immediately, the majority of the structural changes are expected to roll out over the next few years, with full savings targeted by the 2027–2028 financial year.
The broadcaster had earlier signalled its intent to reduce its cost base by around 10 per cent over a three-year period, warning of “difficult choices” as it adapts to shifting economic realities and audience expectations.
With operating costs hovering around £6 billion annually, the BBC’s latest move underscores the scale of the financial challenge it faces, as it balances public service commitments with the need for long-term sustainability in an increasingly competitive media landscape.
