Malaysia's Scientex buying major film rival

By Gurdip Singh
Correspondent

Published: October 4, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Packaging, 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

Visteon in talks to sell its stake in Halla Visteon Climate Control JV

November 26, 2014 9:07 am ET

Visteon Corp. confirmed this morning that it is in discussions with a private equity firm to sell its stake in South Korean joint venture Halla...    More

Image

Irish packaging group Smurfit Kappa opens film plant in Spain

November 26, 2014 6:00 am ET

Global packaging group Smurfit Kappa Group plc has responded to growing demand for its bag-in-box liquid container/dispensers by opening a new plant...    More

Image

Deal adds U.K. plant to DelStar

November 25, 2014 12:47 pm ET

Schweitzer-Mauduit International Inc. (SWM) is acquiring certain assets from the advanced wound management division of London-based Smith & Nephew...    More

Image

Onex buying packaging group SIG Combibloc

November 24, 2014 9:05 am ET

ex Corp. will buy SIG Combibloc Group, the Switzerland-based manufacturer of aseptic carton packaging and plastics closures from New Zealand's Rank...    More

Image

3D Systems buying Cimatron

November 24, 2014 1:46 pm ET

3D Systems Corp. is buying Cimatron Ltd., an Israel-based company that makes integrated computer-assisted design and manufacturing software, for $97 m...    More

Market Reports

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

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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events