- Nippon Paper Industries Enters the Packaging Market in Asia
- Acquires a Majority Stake in Malaysia-based Flexible Packaging Company
- Development base to promote the paperising of flexible packaging, including SHIELDPLUS®
Apr. 15, 2019 - Nippon Paper Industries Co., Ltd. (President: Fumio Manoshiro; hereinafter the "Company") is pleased to announce that it reached an agreement with TS Plastics Sdn. Bhd. (Representative: Oh Chew Hua; hereinafter "TSP"), a flexible packaging company in Malaysia, to acquire a 70％ share of the company and completed the acquisition on March 25, 2019.
In the 6th medium-term business plan, the Company continues to work on the promotion of its business structural shift, focusing on the development of its packaging business, one of its growth segments. This acquisition of TSP will move forward with the expansion of the value chain for the packaging business on a global scale, following the announcement of paper-based barrier material development at Jujo Thermal Oy (President: Toshihiro Sawamura; headquartered in Eura, Finland), which the Company released in March. The Company aims to expand its business in Asia based on the expertise on flexible packaging technology that TSP has accumulated for more than 20 years and its customer base, as well as by taking full advantage of the Company's capacity for technological development and the group's sales network, while responding appropriately to the new demands of package users.
From the standpoint of recyclability and biodegradability, which are becoming a global trend due to eco-friendliness, paper is again favorably viewed as an alternate packaging material and further possibilities are expected. Under the slogan of "Let paper do what it can do", the Company is pushing ahead with paperising solutions including the launch of the SHIELDSPLUS® series, a paper material featuring barrier properties. It will position TSP as the base for the group's paperising development, actively working on the creation of a new paper packaging material, following the SHIELDSPLUS® series.
Overview of TSP
Source: Nippon Paper Industries