Scg

SCG and Duy Tan reached the deal on February 9 A few days ago, the Vietnamese packaging sector was shocked by the news that Duy Tan decided to sell 70 per cent of its stakes share to SCG after many years of negotiation. The move took place right after the Thai player announced ownership of another local company, Bien Hoa Packaging JSC. The two sides remain silent about the particulars of the deal. Nevertheless, according to a source of doanhnghieptiepthi.vn , SCG plans to initially purchase 70 per cent of five of Duy Tan’s 22 subsidiaries which focus on plastic and packaging. Last year, along with the investment in Bien Hoa Packaging JSC, SCG also acquired UK-based Go-Pak Ltd., one of the leading foodservice providers in England, Europe, and North America which also has many manufacturing facilities in the southern part of Vietnam. Over the years, SCG has been constantly pouring capital into the country. As of the end of last third quarter, its total investment in … [Read more...] about Thailand-based SCG sets Vietnam as backup packaging market

SCG Packaging is one of the leading packaging businesses in Thailand (Photo: Komchadluek) Bangkok (VNA) – Thailand ’s SCG Packaging (SCGP) is joining hands with its Vietnamese partners under an investment worth 10 billion THB (334 million USD) to expand its packaging solution business in Vietnam, where demand for packaging products is growing. The latest move is the signing of a share purchase agreement on February 9 to acquire a 70 percent stake in the Duy Tan Plastics Manufacturing Corporation, Vietnam's top producer of rigid plastic packaging products , according to its letter sent to the Stock Exchange of Thailand. The purchase will be made through the SCGP's wholly-owned subsidiary and further transaction details will be provided in the middle of this year. SCGP chief executive Wichan Jitpukdee said SCGP has constantly increased investment in Vietnam, which has yielded a revenue growth of more than 10 percent annually. "SCGP is prepared to work with all … [Read more...] about Thailand packaging company inks partnership in Vietnam

SCG Packaging Public Company Ltd (SCGP) said in a statement the deal, whose value it did not disclose, is expected to be completed in mid-2021. Duy Tan is Vietnam’s largest producer of rigid plastic packaging products such as shampoo and food containers, of which it sells 80 percent locally and exports the rest to the U.S. and some other countries. It also makes plastic housewares products and has a total annual capacity of 116,000 tons. Last year it earned revenues of VND4.7 trillion ($204 million). The investment in Duy Tan is part of SCGP’s expansion across Southeast Asia. It has 43 packaging plants in Vietnam, Indonesia, Malaysia, the Philippines, and Thailand. It plans to invest 10 billion baht ($333 million) in its Vietnamese packaging solutions business. Chief executive Wichan Jitpukdee said the company has consistently been increasing its investment in Vietnam, achieving revenue growth of more than 10 percent a year. In December, it acquired a 94 percent stake in … [Read more...] about Thai company to buy 70 pct of Vietnamese plastic giant

SCG Packaging (SCGP), a Thai group, announced to acquire 70% stake in Duy Tan Plastics Manufacturing Corporation (Duy Tan), a producer of rigid plastic packaging in Vietnam, as part of its plan to invest more US$334 million in the country. It is expected that SCGP’s acquisition will be completed in the first half of 2021. Duy Tan manufactures household plastic containers with a capacity of 116,000 tonnes per year. The company’s increased investment in Vietnam is in line with its strategic plan, which foresees an increase in the diversity of products, including plastic and paper packaging, as well as the development of domestic design teams, according to Wichan Jitpukdee, CEO of SCGP. “We are prepared to work with all partners to share experience and knowledge in the development of integrated packaging solutions and support the growing demand for diverse types of packaging among customers in ASEAN,” Jitpukdee added. During the past decade, the Thai company has continuously … [Read more...] about Thai group purchases 70% stake in Vietnamese plastics manufacturer

Restructuring through M&A can take advantage of the understanding local groups have of their markets, Photo: Shutterstock After 10 years of lengthy internal competition, South Korean Lotte Corporation will fully divest Bibica, selling 44.03 per cent or 6.8 million shares and making The PAN Group the largest shareholder in the Vietnamese confectionery maker. The PAN Group has been vying for controlling stakes of Bibica to retain the Vietnamese confectionery brands in the market amid the aggressive expansion of foreign confectionery products. In 2014, Kinh Do sold 80 per cent of its confectionery business Mondelez International, making it the biggest deal in the history of Vietnam’s confectionery industry. After five years of deals, KDC is making its comeback, resurrecting its snack business under the KIDO brand and rolling out its first moon cake products last year. Meanwhile, Thai cement giant SCG Group has completed the acquisition of its seventh packaging company in … [Read more...] about Strong home brands pursued post-M&A