Notice Regarding Acquisition of Shares of Svam Packaging Industries Private Limited
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.
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:
- Further expand revenues from our processed products business,
- Train the human resources required to promote globalization of our processed products business and global business, and
- 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|
|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.
- 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.