News Releases / 2010

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June 14 , 2010

Rengo Announces Full Ownership of Shanghai Rengo

Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; President & CEO: Kiyoshi Otsubo) announces that Rengo has recently acquired all of the equity of Shanghai Rengo Packaging Co., Ltd. (Head Office: Shanghai China; Chairman: Yoshitaka Ozawa (Director and Managing Executive Officer of Rengo Co., Ltd.); referred to as “Shanghai Rengo”), previously a Chinese joint venture company operated by Rengo and its Chinese partner since the company’s establishment in 1995. All equity held by the partner company has been assigned to Rengo, making the company a wholly-owned subsidiary of Rengo.

Shanghai Rengo has developed its business with leading companies established with foreign capital from countries such as Japan as its main customers, but by becoming a wholly-owned subsidiary of Rengo, it will be able to increase the pace of management initiatives, improve service, and expand business in the Shanghai region.

 

Shanghai Rengo Packaging Co., Ltd. Corporate Outline

Location

Jinxiang Road 1111, Jinqiao, Pudong, Shanghai

Legal representative Yoshitaka Ozawa

New President

Ikuo Kataoka

Capital US$ 25 million (approximately JPY 2.292 billion)
Equity Participation Rengo 100%
Business Scope Manufacture and sale of corrugated board, corrugated boxes,
and paper cores
Sales RMB 127 million (approximately JPY 1.727 billion)
(for the fiscal year ended December 2009)
No. of Employees 250(As of the end of May, 2010)

 

Shanghai Rengo Packaging Co., Ltd.