Rengo Acquires Shares in Indonesian Corrugated Packaging Producer
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Rengo Co., Kita-ku, Osaka, Japan, this past week announced that Thai Containers Group Co. (TCG), Thailand, a joint venture between Rengo and SCG Paper Public Co., a subsidiary of The Siam Cement Public Co., has completed the acquisition of a 90% stake in PT Primacorr Mandiri, which operates a plant in the suburbs of Jakarta, Indonesia. Combining the four existing plants operated by PT Surya Rengo Containers (SRC), a joint venture between PT Indofood CBP Sukses Makmur and Rengo, the annual production capacity in Indonesia will increase to 228,000 metric tons, enabling TCG and SRC to capture the ever-growing demands in Indonesia, the company noted.
Further growth of corrugated demand in Indonesia can be expected, Rengo points out, as many Japanese companies choose the country as their manufacturing base in the ASEAN region, and as national income increases. Corrugated packaging in Southeast Asia is an important strategic focus for the overseas business of the Rengo Group—which aims to be a "General Packaging Industry"—and Rengo says it will work to further enhance its corrugated packaging supply system within the region.
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