CEO offers to buy Singapore molder Meiban

By Gurdip Singh
Correspondent

Published: March 16, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Injection Molding, Molds/Tooling

SINGAPORE (March 16, 1 p.m. ET) — Meiban Group CEO George Goh has offered to take over Singapore’s contract plastics manufacturing company and delist it from the Singapore Exchange (SGX).

Goh and his family members own 30.17 percent of Meiban and have offered S$128.4 million (US$101.93 million) for the shares they do not hold.

The offer comes through Virgin Island-registered investment vehicle Zhong Yong Holdings, which would eventually take over Meiban.

The offer was a good opportunity for shareholders to realize their investment in Meiban, said a joint Meiban and Zhong Yong statement filed with SGX.

The statement said the privatization of Meiban would provide greater flexibility to its management to promote greater efficiency and competitiveness through changes in strategy and investments.

Meiban ended 2011 with a 33 percent year-on-year drop in net profit to S$8.53 million (US$6.77 million) and a 19 percent decline in sales to S$341.46 million (US$271 million), attributing it to weak demand caused by the economic uncertainties in developed markets.


Comments

CEO offers to buy Singapore molder Meiban

By Gurdip Singh
Correspondent

Published: March 16, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Optical disc molder OEM getting into micromolding with acquisition of CDA

August 29, 2014 11:24 am ET

Optical disc replicator and molder Optical Experts Manufacturing Inc. of Charlotte, N.C., has expanded its core business and entered new high...    More

Image

Baxter investing $300 million to expand dialyzers production in Alabama

August 29, 2014 12:53 pm ET

Baxter International, Inc. is expanding its Opelika, Ala. manufacturing location to boost production of dialyzers, a key component of hemodialysis...    More

Image

Obituary: Jerry Williams, Prism Plastics co-owner

August 29, 2014 8:50 am ET

Williams founded Prism Plastics with Rod Bricker and Gerry Phillips, after the three left Huron Plastics Group in 1999.    More

Polish injection molder Teknorubber up for sale

August 29, 2014 9:14 am ET

Polish plastic parts maker Teknorubber has been put up for sale following its insolvency filing in March 2014. The company is to be auctioned through ...    More

Image

Concours adding equipment as mold making business booms in Mexico

August 28, 2014 2:05 pm ET

Concours Mold Inc. is heading for a 50 percent increase in sales in Mexico this year after a $4 million upgrade of its plant in Huejotzingo, in the st...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events