SCGP buys 70% share of SPV

SCG Packaging Plc (SCGP) is acquiring a 70% share in Starprint Vietnam JSC (SPV) for 1.53 billion baht to take advantage of positive prospects in Vietnam.

The asset acquisition is expected to be completed in the third quarter this year, supporting product sales, including offset folding cartons, rigid boxes and luxury packaging products.

“SCGP will continue to expand its business into markets with good business opportunities and Vietnam is a high-potential market with growing demand for packaging products,” said Wichan Jitpukdee, chief executive of SCGP.

SPV has a prominent client base and long-term track record of commercial relationships with renowned multinational and national companies, boasting a portfolio linked to high growth and fast-moving consumer products, he…