News Releases / 2018
March 20, 2018
Rengo to Transfer Equity in Corrugated Packaging Subsidiary in China
Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; Chairman, President & CEO: Kiyoshi Otsubo) announces that it will transfer all its equity in its corrugated packaging subsidiary, Guangdong Rengo Packaging Co., Ltd. (Guangdong Rengo), which is located in Foshan City, Guangdong, China, to Sun Hing Paper Company, Limited, a subsidiary of Hung Hing Printing Group Limited (Head Office: Hong Kong).
Hung Hing Printing is an equity-method affiliate of Rengo in which Rengo holds a 29.91% stake. Although it will mean that Guangdong Rengo will no longer be Rengo’s consolidated subsidiary, Rengo will transfer its equity in Guangdong Rengo to Sun Hing Paper to support Hung Hing Printing’s plans aimed at expanding its corrugated packaging business in Guangdong.
The corrugated packaging business in China is an important strategic focus for the overseas operations of the Rengo Group as a “General Packaging Industry” (GPI). Rengo will work to further enhance its supply system within the region.
Overview of Guangdong Rengo Packaging Co., Ltd.
3 Changbao Dong Road, Ronggui Huakou, Shunde, Foshan City,
Representative Toru Osako Equity investor Rengo Co., Ltd. 100% Main business Manufacturing and sales of corrugated board and boxes, and folding cartons
Overview of Sun Hing Paper Company, Limited
Hung Hing Printing Center, 17-19 Dai Hei St., Tai Po Industrial Estate,
Tai Po, Hong Kong
Representative Yum Chak Ming, Matthew Shareholder
Hung Hing Printing Group Limited 100% (including group company equity)
Main business Sales of paper products