Rengo Acquires Shares in Malaysian Corrugated Packaging Manufacturer
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Rengo Co., Kita-ku, Osaka, Japan, has acquired a 75% stake in TCG Rengo Subang (M) Sdn. Bhd., a wholly-owned subsidiary of its overseas joint venture company Thai Containers Group Co., Thailand. Industrialization centering on the manufacturing industry has been underway in Malaysia since 1970, with the active introduction of foreign capital. With the promotion of Malaysia's long-term plan, Vision 2020, which aims for Malaysia to become one of the world's developed nations by 2020, the company expects a stable increase in demand for corrugated packaging.
The corrugated packaging business in Malaysia and other countries in Southeast Asia is an important strategic focus for overseas operations of the Rengo Group, which defines itself as a "general packaging industry," and aims to expand its operations globally in the same manner as Japan. Rengo says it will continue to work to further enhance its corrugated packaging supply system in the region.
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