Scientex buys Mondi's Malaysian consumer films unit for RM58m

Malaysian packaging group Scientex is acquiring Mondi Ipoh Sdn Bhd, a consumer packaging films maker, from Germany's Mondi Consumer Packaging International for RM58 million cash. The deal, signed via Scientex's wholly-owned unit Scientex Packaging Film, will lift Scientex's consumer packaging capacity by 30% to 76,800 tonnes a year and is estimated to complete by 11 August.

Why this mattersThe purchase lifts Scientex's consumer packaging capacity 30% to 76,800 tonnes a year and removes Mondi from film converting in Malaysia.

• Scientex Packaging Film Sdn Bhd signed a share purchase agreement to acquire 100% of Mondi Ipoh Sdn Bhd (MISB) for RM58 million cash
• MISB is owned by Mondi Consumer Packaging International GmbH of Germany
• MISB operates two manufacturing plants in Perak, Malaysia with capacity of 16,800 tonnes per year
• The acquisition raises Scientex's consumer packaging capacity by 30%, from 60,000 to 76,800 tonnes per year
• Approximately 70% of MISB's revenue comes from exports to Asia-Pacific
• The deal is funded from internal funds and is estimated to complete by 11 August

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