NEWS

Announcement of Acquisition of Svam Toyal Packaging Industries Private Limited as a Subsidiary Through Additional Share Acquisition

2021.07.12Press Release

Toyo Aluminium K.K. is pleased to announce that it has entered into an agreement with Svam Toyal Packaging Industries Private Limited (hereinafter called "Svam Toyal"), a processing company in the Republic of India, on the acquisition of Svam Toyal as a subsidiary through the acquisition of additional shares.



1. Details of the share acquisition

Toyo Aluminium will acquire an additional 17.6% of the total number of shares issued by Svam Toyal so that it holds a 51% stake in the company.

2. Purpose

Toyo Aluminium acquired 33.4% of the shares of Svam (the predecessor of Svam Toyal) in July 2018 and has been promoting cooperation in the Indian market. The aim of the acquisition of the additional 17.6% of the Svam Toyal shares to raise the stake to 51% is as follows.

[1] To increase profits in processed product business in growth markets

[2] To achieve the globalization of processed product business

[3] To use the investment to open a path to the expansion of the foil business

[4] To increase the corporate value of the Toyo Aluminium Group by acquiring the subsidiary


    3. Overview of Svam Toyal

    Company name Svam Toyal Packaging Industries Private Limited
    Location New Delhi, Republic of India
    Title and name of representative Managing Director Katsura Morioka
    Year of establishment 1998
    Main business Manufacture and sale of pharmaceutical packaging materials
    Sales volume 2.74 billion India rupees (Year ended March 31, 2021)
    Number of employees Approx. 130



    4. Schedule

    May 28, 2021 Approval by Toyo Aluminium Board of Directors (Completed)
    July 9, 2021 Online signing ceremony for the share transfer agreement (Completed)

    During August 2021

    Execution of the share transfer and acquisition as a subsidiary


    5.Notes
    Previous release https://www.toyal.co.jp/eng/whatsnews/2018/07/20170710.html

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