Thailand’s SCG entered share purchase agreement with Vietnam’s Duy Tan

In an official filing to the Stock Exchange of Thailand, The Siam Cement Public Co Ltd announced that its subsidiary – SCG Packaging Public Co Ltd has entered a share purchase agreement with Duy Tan Plastics Manufacturing Corporation in Vietnam on 9 February 2021. 

As such, SCG Packaging Public Co Ltd acquires a 70% stake in Duy Tan Plastics Manufacturing Corporation, and further transaction details would be released by mid of 2021, ‘upon deal closing and regulatory approval in Vietnam.

Duy Tan Plastics Manufacturing Corporation is one of the largest rigid plastic packaging manufacturers in Vietnam with an annual capacity of 116,000 tons, serving multinational and local companies in the consumer/FMCG sector. The company also produces a wide range of household products that 80% are sold in the local market and 20% are exported to the USA and other countries.

The acquisition would allow SCG to consolidate its presence and strength in the rigid packaging sector across the region.