After SC Verdict, INSCO to Acquire Hindustan National Glass & Industries

28 Feb 2025 CW Team

HNG, one of India's leading and oldest container glass manufacturers, has been undergoing insolvency proceedings since 2021. The acquisition was contested between INSCO and AGI Greenpac, with both submitting bids worth approximately Rs 22 billion. While INSCO secured approval from the Competition Commission of India (CCI) in September 2022, AGI’s bid was initially favoured by creditors despite lacking regulatory clearance at the time. The matter escalated to the Supreme Court, which has now ruled in favour of INSCO, emphasizing the importance of regulatory approvals in acquisition decisions.

With the legal hurdles cleared, INSCO is set to commence operations in India, focusing on revitalizing HNG’s manufacturing facilities, improving efficiency, and ensuring long-term sustainability. This acquisition aligns with the Madhvani Group’s global expansion strategy and supports India’s "Make in India" initiative.

The Madhvani Group, one of East Africa’s largest and most diversified conglomerates, operates across multiple sectors, including sugar production, hospitality, real estate, energy, packaging, and container glass manufacturing. Employing over 18,000 people worldwide, the group has a significant presence in Africa, the Middle East, and North America. INSCO’s expertise in glass manufacturing is backed by its association with the Turner Group, which operates one of East and Central Africa’s largest glass plants in Tanzania, producing 226,000 tons of container glass annually.

News source: The Hindu

Independent Sugar Corporation (INSCO), a subsidiary of the Uganda-based Madhvani Group, has received a favourable ruling from the Supreme Court of India, allowing it to acquire Hindusthan National Glass & Industries (HNG) through the Insolvency & Bankruptcy Code (IBC) process. This decision resolves a prolonged corporate dispute and enables INSCO to enter India’s container glass industry. HNG, one of India's leading and oldest container glass manufacturers, has been undergoing insolvency proceedings since 2021. The acquisition was contested between INSCO and AGI Greenpac, with both submitting bids worth approximately Rs 22 billion. While INSCO secured approval from the Competition Commission of India (CCI) in September 2022, AGI’s bid was initially favoured by creditors despite lacking regulatory clearance at the time. The matter escalated to the Supreme Court, which has now ruled in favour of INSCO, emphasizing the importance of regulatory approvals in acquisition decisions. With the legal hurdles cleared, INSCO is set to commence operations in India, focusing on revitalizing HNG’s manufacturing facilities, improving efficiency, and ensuring long-term sustainability. This acquisition aligns with the Madhvani Group’s global expansion strategy and supports India’s Make in India initiative. The Madhvani Group, one of East Africa’s largest and most diversified conglomerates, operates across multiple sectors, including sugar production, hospitality, real estate, energy, packaging, and container glass manufacturing. Employing over 18,000 people worldwide, the group has a significant presence in Africa, the Middle East, and North America. INSCO’s expertise in glass manufacturing is backed by its association with the Turner Group, which operates one of East and Central Africa’s largest glass plants in Tanzania, producing 226,000 tons of container glass annually. News source: The Hindu

Technology

29 Jul 2026

AI-Enabled Workflows Lift Profitability and Productivity

Organisations modernising frontline workflows with artificial intelligence, automation and real-time data are reporting stronger financial performance, higher productivity and improved employee engagement, according to a global study by Zebra Technologies and Oxford Economics.The research covered 1,000 senior leaders across retail, manufacturing, transportation and logistics in the US, Mexico, the UK, Germany, India, Japan, Australia and New Zealand.In transportation and logistics, 54 per cent of companies that improved picking and packing operations reported faster operational performance, wh..

Real Estate

29 Jul 2026

India Leads Global AI Readiness but Implementation Lags

Indian companies lead global averages across all eight artificial intelligence readiness indicators tracked by JLL, but only 19 per cent have started making changes to their workplaces, according to the JLL 2026 Future of Work Survey.The study found that 77 per cent of Indian business leaders expect AI to change their office requirements, creating a 58-percentage-point gap between awareness and implementation. The survey covered more than 2,200 CEOs, CFOs and real estate leaders across 21 countries during the first quarter of 2026.Despite concerns over automation, 58 per cent of Indian leaders..

Equipment

29 Jul 2026

Three WOLFF Cranes Build Riyadh Cable-Stayed Bridges

Three WOLFF 180 B luffing jib cranes are supporting the construction of two cable-stayed bridges alongside the existing Wadi Laban Bridge in Riyadh, Saudi Arabia. The project is being developed for the Royal Commission for Riyadh City and executed by the ICRC joint venture comprising IC Ictas and Al Rashid Trading & Contracting Company.The cranes are handling lifting operations including formwork, reinforcement, concrete placement, work platforms, surveying equipment and other construction materials. Each crane is fitted with a 40 m jib, reaches a hook height of 157 m and offers a maximum ..