Rengo Co., Ltd announces that its joint venture in Thailand, Thai Containers Group Co., Ltd., (TCG) has acquired 94.11% of the shares in Bien Hoa Packaging Joint Stock Company, a corrugated packaging and folding carton manufacturer located near Ho Chi Minh, Vietnam, through TCG Solutions Pte. Ltd, TCG's subsidiary.
Bien Hoa Packaging Joint Stock Company is a leading manufacturer listed in the Ho Chi Minh Stock Exchange, with two corrugated packaging plants and one folding carton plant located near Ho Chi Minh City.
The Rengo Group has been continuing to expand its bases in Vietnam since it acquired the corrugated packaging manufacturer, New Asia Industries Co., Ltd., in February 2010 through TCG. Through the acquisition of shares this time, the Group will have six corrugated packaging plants and two folding carton plants in Vietnam.
Our businesses in Vietnam and Southeast Asia are considered important strategic focuses for the overseas operations of the Rengo Group as the General Packaging Industry (GPI), and we will continue to drive further enhancement of our business in the future.