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.
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
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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) |
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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
