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
Companies & Associations

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

Uponor sells plastic pipe machinery business to focus on core units

March 30, 2015 2:13 pm ET

Uponor Corp., the Finland-based maker of plastic pipe systems for plumbing, underfloor heating and cooling and infrastructure, announced March 30...    More

Image

Dow Chemical to merge chlorine operations with Olin

March 27, 2015 12:43 pm ET

Dow Chemical Co. is combining a large part of its chlorine value chain with specialty chemicals and ammunition maker Olin Corp. to create a global...    More

Image

Flextronics launches global injection molding, tooling unit

March 26, 2015 4:29 pm ET

Flextronics International Ltd. (Booth S34125) is officially launching Precision Plastics, a global injection tooling and manufacturing unit, as a...    More

Image

Core Molding buys CPI Binani assets, adds markets, D-LFT capabilities

March 20, 2015 1:20 pm ET

Core Molding Technologies Inc. is expanding its thermoplastics capabilities with the acquisition of substantially all the assets of CPI Binani Inc.,...    More

Image

Proposed Cardia-Stellar merger labeled 'not fair,' but still 'reasonable'

March 20, 2015 10:34 am ET

If the proposed merger of two Australian bioplastics companies goes ahead, the new company will be called Secos Group Ltd. and have annual sales of ab...    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