News Releases / 2010

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November 29, 2010

Rengo Announces Full Ownership of Qingdao Rengo

Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; President & CEO: Kiyoshi Otsubo) announces that Rengo recently acquired all of the equity of Qingdao Rengo Packaging Co., Ltd. (Head Office: Qingdao, China; Chairman: Yoshitaka Ozawa (Director and Managing Executive Officer of Rengo Co., Ltd.); referred to as “Qingdao Rengo”), previously a Chinese joint venture company operated by Rengo and its Chinese partner since the company’s establishment in 1996. All equity held by the partner company has been transferred to Rengo, making the company a wholly-owned subsidiary of Rengo.

Qingdao Rengo completed construction of a new plant in July 2009, retooled its major equipment, and doubled production capacity. The main customers of its products include prominent Chinese companies such as Tsingtao Brewery and Haier and leading foreign enterprises, including Japanese companies. Qingdao Rengo’s operations include printing graphics on linerboard using a newly introduced eight-color printing machine and producing corrugated boards and boxes.

As a wholly-owned subsidiary of Rengo, Qingdao Rengo will strive to raise the pace of its management processes and improve service while expanding business in the Qingdao region.



Qingdao Rengo Packaging Co., Ltd. Corporate Outline

Location Qingyin Road South & Huaxia Road West, Xiazhuang Town , Chengyang District, Qingdao, China
Legal representative

Yoshitaka Ozawa

New President Hirokazu Mizoguchi
Capital RMB 134 million (approximately JPY 1.713 billion)
Equity Participation Rengo 100%
Business Scope Production of printed linerboard and manufacture and sale of corrugated packaging and folding cartons
Sales RMB 89 million (approximately JPY 1.144 billion) (for the fiscal year ended December 2009)
No. of Employees 224 (as of the end of October 2010)