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

Comar merging with Convergence Packaging

October 21, 2014 5:07 pm ET

A couple of plastic packaging companies owned by private investment firm Graham Partners are merging into a single entity.    More

Image

Celanese buys conductive polymer supplier

October 21, 2014 4:31 pm ET

Materials firm Celanese Corp. has acquired most of the assets of conductive polymers maker Cool Polymers Inc. for an undisclosed price.    More

Image

Report: SVP takes Klöckner Pentaplast off the market

October 21, 2014 4:19 pm ET

Plastic sheet leader Klöckner Pentaplast Group is no longer for sale, according to an Oct. 21 Reuters article.    More

Image

Wisconsin cast film maker buys Ohio blown film specialist

October 21, 2014 2:57 pm ET

A Midwest U.S. acquisition has created a company armed with two distinct film technologies: cast films and coextruded blown film constructions.    More

Image

Omega buys Vinylex, adds capacity, locations

October 21, 2014 1:48 pm ET

Profile extruder Omega Plastics LLC has expanded its stake in the market by acquiring Vinylex Corp.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events