Announcement of Acquisition of Svam Toyal Packaging Industries Private Limited as a Subsidiary Through Additional Share Acquisition
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.
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.
 To increase profits in processed product business in growth markets
 To achieve the globalization of processed product business
 To use the investment to open a path to the expansion of the foil business
 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|
|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|