NEWS

Notice Regarding Acquisition of Shares of Svam Packaging Industries Private Limited

2018.07.10Press Release

Toyo Aluminium K.K. and Svam Packaging Industries Private Limited (hereinafter "Svam Packaging Industries"), a processing company of the Republic of India have reached an agreement concerning the acquisition of shares of Svam Packaging Industries as follows.

Details

1. Purpose

By working together through the acquisition of shares of Svam Packaging Industries, the leading manufacturer of pharmaceutical packaging materials in India, a market expected to grow significantly in the future, we aim to:

  1. Further expand revenues from our processed products business,
  2. Train the human resources required to promote globalization of our processed products business and global business, and
  3. Utilize Svam Packaging Industries as a production base for global expansion of our development technologies and products.


2. Overview of Svam Packaging Industries

trade name Svam Packaging Industries Private Limited
Head Office New Delhi, Republic of India
Representative Satish Kumar
Date of establishment 1998
Major business activities Manufacture and sale of pharmaceutical packaging material
Sales 1,225 million Indian Rupee (as of end of March 2018)
Capital 5.8 million Indian Rupee
Number of employees Approx. 90



3. Details of share acquisition

Toyo Aluminium has acquired 33.4% of the total number of issued shares of Svam Packaging Industries.


4. Schedule

  • June 22, 2018: Approval of the Board of Directors (completed)
  • July 09, 2018: Contract signing ceremony in New Delhi (completed)
  • July 2018: Share transfer


5. Future plans

From August this year, we will commence procedures to improve governance, dispatch technical personnel, provide assistance in plant management, etc., marketing support and customer service, etc. as required.

Categoly