RENGO CO., LTD. Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; Chairman, President & CEO: Kiyoshi Otsubo) announces that its joint venture TC Flexible Packaging Co., Ltd. (TCFP) has completed an investment for an 80% stake in Tin Thanh Packing Joint Stock Company (BATICO), a flexible packaging manufacturer in Vietnam.
BATICO is located in Duc Hoa Ha Plastic Industrial Zone in Long An Province, approximately 30 kilometers west of central Ho Chi Minh City. It holds a prominent position in Vietnam's flexible packaging market, with an annual production capacity of approximately 230 million m2.
TCFP plans to expand its flexible packaging business, focusing upon packaging for food and consumer products in the Southeast Asian region, which is expected to see continued high growth in demand. This investment in BATICO is an initiative which follows up on the investment in Prepack Thailand Co., Ltd. last year.
Moving forward, Rengo hopes to leverage its extensive flexible packaging expertise through TCFP to strengthen this business in Southeast Asia and to bolster its supply structure to the various packaging needs of the region.
* "BATICO" is the registered short name for Tin Thanh Packing Joint Stock Company
Overview of TC Flexible Packaging Co., Ltd.
| Address | 1 Siam Cement Road, Bangsue, Bangkok 10800, Thailand |
| Representative | Karan Tejasen |
| Shareholders |
Rengo Co., Ltd. 20% Howa Sangyo Co., Ltd. 5% Thai Containers Group Co., Ltd. 75% |
| Main Business | A control and holding company for Southeast Asian-based flexible packaging business |
| Address |
Lot C20, Duc Hoa Ha Plastic Industrial Zone, |
| Representative | Jakjit Klomsing |
| Shareholders |
TC Flexible Packaging Co., Ltd. 80% Others 20% |
| Main Business | Manufacturing and sales of flexible packaging |
| Net Sales |
954 billion VND (approximately 5.3 billion yen) (For the FY2014) |
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