Malaysia's Scientex buying major film rival

By Gurdip Singh
Correspondent

Published: October 4, 2012 6:00 am ET

Related to this story

Topics Packaging, Mergers & Acquisitions, Film & Sheet

KUALA LUMPUR, MALAYSIA (Oct. 4, 2:15 p.m. ET) — Malaysia’s Scientex Bhd has reached an agreement to buy GW Plastics Holdings Bhd for 283.2 million Malaysian ringgit (US$92.63 million) in cash and guaranteeing current debts.

Scientex subsidiary Scientex Packaging Film Sdn Bhd will take over Great Wall Plastic Industries Bhd and GW Packaging Sdn Bhd, GW Plastics said in a filing with the Malaysia stock exchange.

The takeover, to be completed by the first quarter of next year, will boost Scientex’s industrial cast film production capacity to 154,000 metric tons per year, from 120,000 metric tons.

The deal also will put Scientex into the expanding global food and beverage market segment via GW Plastics’ blown film, and downstream printing and lamination facilities.

The acquisition increases Scientex’s export base, since 97 percent of GW Plastics products are exported to international markets.

Though global markets were impacted by the ongoing economic crisis in the West, the plastics packaging market was projected to maintain a steady growth. Growth market patterns would also switch to Asia Pacific and other emerging economies from the traditional European and American markets, said Scientex, in its own filing with the Malaysia stock exchange.

The company also cited plans by GW Plastic and GW Packaging to increase production capacity in the United States, China, Russia and Africa.


Comments

Malaysia's Scientex buying major film rival

By Gurdip Singh
Correspondent

Published: October 4, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

China's biggest fuel tank maker getting a US foothold

April 23, 2014 4:41 pm ET

The majority owner of China's biggest fuel tank maker is expanding its global automotive footprint with the acquisition of the fuel tank unit of...    More

Image

How CEO Santi is changing ITW

April 23, 2014 2:48 pm ET

Scott Santi is showing he can do more than just cut costs at Illinois Tool Works Inc.    More

Quality Vision buys ShapeGrabber

April 23, 2014 10:19 am ET

Quality Vision International Inc. of Rochester, N.Y., has purchased ShapeGrabber Inc., a maker of automated three-dimensional scanners, in a deal...    More

Image

Pregis Corp. to get new owner

April 22, 2014 11:44 am ET

The private equity owner of Pregis Corp. is selling off its North American operations for an undisclosed sum.    More

Europe's bag use still expected to climb despite possible bag restrictions

April 22, 2014 9:29 am ET

Ceresana, a Germany-based research company, has released a report forecasting that by 2020 the sales volume of bags and sacks in Europe will reach 9.1...    More

Market Reports

Market Data Book - Rankings & Lists

A one-stop download of Plastic News' exclusive annual lists and processor rankings containing essential data including sales, employees, end markets, materials and more.
EXCLUSIVE EXCEL FEATURE: full mailing address details for available plant locations.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Mold Making and Tooling Review and Outlook 2014 North America

This report provides in-depth analysis of the mold and toolmaking market for North America, including discussions of trends, opportunities, threats, the latest developments in production and labor and equipment trends impacting moldmakers.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

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

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events