VietNamNet Bridge – The Thai group - SCG - has spent 1.5 billion baht (approximately $42.8 million) to acquire 80% of Vietnamese packaging company Tin Thanh (Batico), according to the Bangkok Post.



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Mr. Kan Trakulhoon, President and CEO of SCG



Kan Trakulhoon, President and CEO of SCG, said the deal was conducted through a subsidiary - TC Flexible Packing Co. (TCFP). Another subsidiary of SCG - SCG Packing Plc. Batico - is holding 52.2% shares of TCFP.

Batico is among the top five largest packaging manufacturers in Vietnam. Each year the company produces 230 million m2 of packaging. Kan said that last year Batico’s revenue was $41.06 million.

According to Roongrote Rangsiyopash, who was chosen to replace Kan as SCG Chair, the deal aims to expand the production of paper and packaging and become a leading packaging manufacturer in ASEAN.

Kan also added that, in Vietnam, SCG has expanded paper and packaging manufacturing in recent years because the potential of this sector in Vietnam is quite large, with an annual growth rate of 6%.

With the acquisition of Batico, SCG currently owns four factories producing soft plastic packaging, including two factories in Vietnam.

Nam Hai