Confirming its expansion plans for China and adjacent markets, SCA has purchased the remaining 7.5 per cent of the shares in SCA Packaging Asia (formerly Central Package Group) from chemicals company Sekisui. The MSEK45M purchase is a continuation of SCA's acquisition in 2004, when the shareholding was increased from 65 to 92.5 per cent, and the company will now be a wholly owned subsidiary of SCA.
SCA president and ceo Jan Åström comments: "Investments in recent years, including investment in a totally new packaging plant in Suzhou, are important steps in a strategy designed to increase growth in the Chinese market."
SCA Packaging Asia has annual sales of approximately SEK1.5B, which it expects to “at least double” within five years through organic growth. The company has 16 production units in China, and a further six plants are located in Singapore, Malaysia and Indonesia.
| Contact |
| SCA |
