SCC Invests ฿4.3bn in “Visy Packaging” to Reinforce “SCG Packaging” Business Growth

The Siam Cement Public Company Limited (SCC) has announced that SCG Packaging Public Company Limited (SCG Packaging), SCC’s 99.04% owned subsidiary in the packaging business, has completed the THB 4,341 million acquisition of an 80% stake in Visy Packaging (Thailand) Limited (Visy Thailand). This acquisition is from Visy Singapore Investments Pte. Ltd., a holding company within the Visy group, and is executed through SCGP Rigid Plastics Company Limited, a 100%-owned subsidiary of SCG Packaging.

Visy Thailand is Asia’s leading producer of thermoformed barrier food packaging which is also recyclable, serving established global brand owners that require high-quality packaging products. Its product has strong linkages to modern consumer trends for convenience and healthier lifestyle. Examples include premium cups and jars for processed food and fruits where high-heat tolerance and shelf-life extension are key performance features. Also, the acquired company possesses a global scale with a highly-automated production facility, including proprietary technology to produce packaging that can preserve food and fruit, as well as an integrated process to minimize waste.
For the fiscal year ended June 30, 2019, Visy Thailand reported sales of THB 1,777 million, combined staffs of approximately 100, and total assets of approximately THB 2,010 million. Visy Thailand’s statement of financial position will be consolidated into SCG Packaging from the end of August 2019, while the company’s income statement will be consolidated beginning September 2019.

The acquisition of Visy Thailand further reinforces SCG Packaging’s continued growth and capabilities as a total packaging solution provider, especially in the Asian food and fruit segments where the world’s major plantations are based.