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Rengo acquires majority stake in Indonesian corrugator

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Rengo acquisition in Indonesia
Rengo Co Ltd has acquired a 90% stake in PT Indoris Printingdo, a manufacturer of corrugated packaging and folding cartons which operates outside of downtown Jakarta.

PT Indoris gained US$4.287 million (Rp 53.5 billion) in net sales in 2013. Financial details of this acquisition were not disclosed.

The acquisition was completed through Thai Containers Group Co Ltd (TCG), a joint venture between Rengo and SCG Paper Public Company Limited, a subsidiary of The Siam Cement Public Company Ltd.

With the acquisition of PT Primacorr Mandiri last September through TCG, and the network of four existing plants operated by PT Surya Rengo Containers (SRC), the distribution for corrugated packaging and folding cartons will increase to six in Indonesia.

“The corrugated packaging business in Southeast Asia is an important strategic focus for the overseas operations of the Rengo Group, a “General Packaging Industry” (GPI),” said the Japanese converter. “Rengo will work to further enhance its corrugated packaging supply system within the region.”

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1 PBIA May2015 web


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