Rengo Co., Ltd. announces that it has established a wholly-owned subsidiary (Rengo Europe GmbH) in Germany as a base to further focus on the Group’s business development in Europe.
In addition, as the integration process with TRICOR Packaging & Logistics AG, which joined the Rengo Group in 2019 and has been Rengo consolidated subsidiary, is steadily progressing, Rengo has resolved to acquire, through Rengo Europe GmbH and TRICOR Packaging & Logistics AG, a 100% stake in THIMM Packaging Systems GmbH & Co.KG, a manufacturer of heavy duty packaging materials headquartered in Nordhausen, central Germany, and has entered into a share purchase agreement with its investor (THIMM Group, an independent general packaging manufacturer in Germany). The execution of the transfer of equity interest is subject to approval by the German Federal Cartel Office.
THIMM Packaging Systems GmbH & Co.KG, through its own company as well as subsidiaries, has plants in Germany and the Czech Republic, and manufactures and sells heavy duty packaging materials made from a wide variety of materials, including corrugated board, wood packaging and pallets, and pulp and plastic packaging materials.
TRICOR Packaging & Logistics AG manufactures and sells heavy duty packaging materials, such as corrugated board and wood pallets, and offers logistics services centered around its main plant (corrugation plant) in Bavaria, southern Germany. With the addition of THIMM Packaging Systems GmbH & Co.KG to the Group, Rengo Group aims to expand its product portfolio, enhance its supply system, and promptly respond to a wide range of packaging needs while aiming to become the one and only packaging and service provider in Germany and the surrounding area.