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Rengo acquires stake in Thai flexible packaging converter

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Prepack Thailand
THAILAND –
Rengo Co Ltd has acquired a 25% share in domestic holding company TC Flexible Packaging Co Ltd (TCFP), indirectly giving it a stake in Prepack Thailand Co Ltd, a major flexible packaging converter.

Rengo made a direct purchase of a 20% share in TCFP, while its wholly owned subsidiary Howa Sangyo Co Ltd acquired the other 5%.

Including the indirect holdings through Thai Containers Group - Rengo's joint venture with SCG Paper - Rengo’s interest in TCFP is now a total of 47.5%. This latest move gives Rengo an increased say in the business of Prepack, which TCFP in May 2014 acquired a 22% stake in and subsequently further increased its share to 72% - making Prepack a subsidiary of TCFP.

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PACKAGING BUSINESS INSIGHT ASIA

1 PBIA May2015 web

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