SCIENTX 4731 SCIENTEX BERHAD partners Taisei Lamick Japan to expand into liquid and paste packaging

 SCIENTX 4731 SCIENTEX BERHAD partners Taisei Lamick Japan to expand into liquid and paste packaging

KUALA LUMPUR (Sept 2): Scientex Bhd is partnering with Japan-based producer of liquid and paste packaging systems, Taisei Lamick Co Ltd, to expand its market share in the region.

In a statement on Friday (Sept 2), the packaging manufacturer and property developer said Tokyo Stock Exchange-listed Taisei Lamick is involved in the manufacturing and sale of plastic films, retort pouches and pouches with zippers for automatic filling with liquids and pastes, as well as manufacturing and sale of “DANGAN” auto fillers for liquids and pastes, peripheral devices and technical services.

Meanwhile, its subsidiary Taisei Lamick Malaysia Sdn Bhd (TLM) is primarily involved in the manufacturing and sale of printed and laminated flexible light packaging materials for food and beverage (F&B) and fast moving consumer goods (FMCG) products.

Scientex said its unit Scientex Packaging Film Sdn Bhd has entered into a share sale agreement (SSA) with Taisei Lamick to acquire 8,100 ordinary shares representing 80.2% equity interest in TLM for RM63.8 million cash consideration.

Upon completion of the SSA, Scientex will hold 80.2% equity in TLM, while Taisei Lamick will hold the remaining 19.8% equity.

Scientex chief executive officer Lim Peng Jin said the collaboration, leveraging the strong reputation and collective strengths of Scientex and Taisei Lamick, is poised to bring industry-defining cost-competitive quality products to regional clientele.

“Foremost is the fact that it would enable Scientex to gain an immediate foothold into the fast-growing film business that is used in liquid and paste packaging, thus enhancing our offering of diversified and customised flexible packaging products especially in the F&B sector.

“It will also provide opportunity for us to expand our capability into producing customised healthcare and hygiene-related packaging, and widen the range of value-added packaging solutions in the FMCG sector,” he said.

Lim said the proposed acquisition is expected to be completed in the second half of the year 2022, and anticipated to contribute positively to its earnings for the financial year ending July 31, 2023.

At the midday break on Friday, Scientex gained one sen to RM3.51 with 82,300 shares traded.

http://www.theedgemarkets.com/article/scientex-partners-taisei-lamick-japan-expand-liquid-and-paste-packaging