Oji to Make Offer for Corrugated Producer HPI in Malaysia
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Oji Paper Co., Japan, reports that it has decided to make a general offer for all of the issued shares of HPI Resources Bhd, a holding company of Harta Packaging Industries, a major manufacturer of corrugated board in Malaysia. HPI produces 47,000 metric tpy (250 million cubic meters) of corrugated boards and operates box plants in Malaysia and Cambodia. It also has plastic bag manufacturing capabilities in Malaysia.
The acquisition complements Oji's earlier acquisitions of S Paper & Packaging Sdn Bhd and United Kotak Bhd. In Malaysia and will secure the company some 30% share of the Malaysian corrugated board market. Combined with the paper bag capacity, the acquisitions place Oji in the position of "total packaging provider" in the South East Asia region.
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