- April 30, 2013
TORONTO, ON, CANADA | CCL Industries, a supplier of specialty packaging solutions for the consumer products and healthcare industries, has signed a binding agreement to build a new plastic tube manufacturing and decorating plant in Bangkok, Thailand, in partnership with Taisei Kako Co., Osaka, Japan, a producer of specialty plastic containers for the personal care and pharmaceutical markets.
Between them the partners will invest a total of US$5 million in equity to start the joint venture with initial capacity provided through equipment transfers from existing CCL and Taisei Kako tube operations. The partners will each own 50% of the new company. CCL's interest in the joint venture will be represented by Jim Anzai, VP and managing director of Asian operations.
Geoffrey Martin, president and CEO of CCL Industries, says, "We are very pleased to have found such an advanced technology company as Taisei Kako to help us build our tube business in Asia. The new operation will focus on selling tubes alongside labels to existing CCL customers in the Home and Personal Care sector in Southeast Asia, while exporting products to customers of Taisei Kako in the same sector in Japan. We believe this is an excellent opportunity for [us] to expand our successful tube business into the most important emerging market for these products in the world."