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Rengo acquires stake in Thai flexible packaging converter

Rengo acquires stake in Thai flexible packaging converter, Rengo Co Ltd, Thai Container Group, SCG paper, TC Flexible Packaging
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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