News Releases / 2011

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August 24, 2011

Rengo Announces Full Ownership of Tianjin Rengo,
Construction of a New Plant,
and Relocation of the Current Plant

Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; President & CEO: Kiyoshi Otsubo) announces that Rengo has recently acquired all of the equity of Tianjin Rengo Packaging Co., Ltd. (Head Office: Tianjin, China; Chairman: Yoshitaka Ozawa (member of the Board and Senior Managing Executive Officer of Rengo Co., Ltd.); referred to as “Tianjin 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.

Tianjin Rengo’s main sales area is Tianjin and its neighboring city of Beijing. It provides high-quality corrugated packaging to Japanese and other foreign capital corporations in addition to local Chinese corporations.

Currently, a new plant is being constructed in the Balitai Industrial Park in Tianjin’s Jinnan District. It is scheduled to replace the current plant after its completion in December 2011. The new plant is located close to the Tianjin Economic-Technological Development Area (TEDA). In order to fulfill the needs for corrugated packaging from customers, the plant’s principal facilities will be renovated and plans are in place to double production capacity.

As a wholly-owned subsidiary of Rengo, Tianjin Rengo will strive to increase the pace of management initiatives, improve service, and reinforce business in Tianjin and the Beijing economic zone, where continued market expansion is expected.

 

Overview of Tianjin Rengo Packaging Co., Ltd.

Location

7, Baokang Road, Guangrong Street, Hongqiao, Tianjin, China

(New location: No. 14 Fengze 4th Road, Balitai Industrial Park,
Jinnan, Tianjin)
Legal Representative

Yoshitaka Ozawa

General Manager

Kotaro Nakayama

Capital USD 25.5 million (approximately JPY 1,939 million)
Shareholder Rengo Co., Ltd. (100%)
Main Business Manufacturing and sales of corrugated boards and boxes
Net Sales RMB 109 million (approximately JPY 1,344 million)
(for the fiscal year ended December 2010)
Number of Employees 297 (as of July 31, 2011)