News Releases / 2011

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October 25, 2011

Rengo Announces Full Ownership of Guangdong Rengo

Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; President & CEO: Kiyoshi Otsubo) announces that Rengo has recently acquired all of the equity of Guangdong Rengo Packaging Co., Ltd. (Head Office: Foshan City, Guangdong Province, China; Chairman: Yoshitaka Ozawa (member of the Board and Senior Managing Executive Officer of Rengo Co., Ltd.); hereafter “Guangdong Rengo”), previously a Chinese joint venture company operated by Rengo and its Chinese partner since the company’s establishment in 1998. All equity held by the partner company has been transferred to Rengo, making the company a wholly-owned subsidiary of Rengo.

The main customers of Guangdong Rengo’s products include leading Japanese and other foreign enterprises with a presence in the Foshan City and surrounding Guangdong Province area. Its operations include manufacturing and sales of high quality corrugated packaging.

As indicated in the notice issued on August 3 of this year, Rengo has acquired shares in Hong Kong’s Hung Hing Printing Group Limited (hereafter the “Hung Hing Printing Group”) as part of its business strategy for the Guangdong Province market, in which the greatest amount of demand for corrugated packaging in China is concentrated. Rengo will continue to engage in packaging business operations on an even greater scale through the business relationships it builds with Hung Hing Printing Group companies in the province.

 

Overview of Guangdong Rengo Packaging Co., Ltd.

Location

3 Changbao Dong Road, Ronggui Huakou, Shunde, Foshan City,
Guangdong, China 528306

Legal Representative

Yoshitaka Ozawa

General Manager Junichiro Yamaguchi
Capital USD 16.88 million (approximately JPY 1,345 million)
Shareholder Rengo Co., Ltd. (100%)
Main Business Manufacturing and sales of corrugated packaging and folding cartons
Net Sales RMB 104 million (approximately JPY 1,283 million;
for the fiscal year ended December 2010)
Number of Employees 353 (as of September 30, 2011)