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

Almost half of mid-market firms say they are looking to buy competitors

March 2, 2015 3:52 pm ET

There are steps that plastics business owners can take to keep the mergers and acquisitions parade rolling into 2015.    More

Image

P&G adding label to help guide consumers in recycling

March 2, 2015 3:29 pm ET

Procter & Gamble Co. will help prompt consumers to recycle rigid packaging by joining the Sustainable Packaging Coalition's How2Recycle Label program.    More

Image

Ferro acquires TherMark Holdings for $5.5 million

February 26, 2015 12:15 pm ET

Ferro Corp. said it acquired privately held TherMark Holdings Inc., a laser marking technology company, for $5.5 million in cash.    More

Image

Serbia puts Krušik-Plastika up for sale

February 26, 2015 11:39 am ET

The Serbian Privatization Agency has launched the privatization process for local plastics maker Krušik-Plastika. The agency says it is...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

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 billion 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

Upcoming Plastics News Events

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

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

More Events