June 15 (Reuters) - Intertape Polymer Group Inc ITP.TO :
* Intertape Polymer Group (IPG(R)) enters strategic partnership through Capstone(R)
* Agreement to acquire a majority stake in Capstone Polyweave Private Limited, a enterprise in India
* Agreed to ultimately acquire a minimum of a 55% interest in capstone for a cash consideration of approximately $13 million
* Majority of cash consideration of about $13 million is intended to be used by Capstone to partially finance construction of Greenfield manufacturing facility
* Cash consideration of about $13 million will be financed with funds from IPG's revolving credit facility
* Payments from co will be made in several tranches over a period of approximately six to twelve months
* Construction of Greenfield facility is planned to begin in 2017 with commercial operations expected to commence in first half of 2019
* Greenfield manufacturing facility is expected to cost approximately $30 million Source text for Eikon: ID:nCCNb6MNVa Further company coverage: ITP.TO