Scientex Acquires Two Consumer Packaging Plants from Mondi Group

Global packaging manufacturer and leading property developer Scientex Berhad has through its subsidiary signed a share purchase agreement to acquire packaging player Mondi Ipoh Sdn Bhd (MISB) for a purchase consideration of RM58.0 million to expand its consumer packaging division.

The purchase will see Scientex’s wholly-owned subsidiary Scientex Packaging Film Sdn Bhd acquire a 100% stake in MISB from Mondi Consumer Packaging International GmbH, a wholly-owned subsidiary of international packaging and paper group Mondi. Mondi has a dual listed company structure, with a primary listing on the Johannesburg Securities Exchange for Mondi Limited and a premium listing on the London Stock Exchange for Mondi plc.

Mr. Lim Peng Jin (林炳仁), Managing Director of Scientex Berhad said: “The successful acquisition of MISB would immediately allow the enlarged Scientex Group to expand our clientele to include leading international brands in the food and beverage (F&B) and fast moving consumer goods (FMCG) sectors. Additionally, approximately 70% of MISB’s revenue comprises exports to the Asia Pacific, thus giving us a larger market share in the regional packaging industry. Furthermore, we stand to benefit from the increased production capacity of the Group’s downstream consumer packaging products, particularly functional films. This allows us to serve a broader set of requirements from new and existing clientele, especially large multinationals with diverse packaging needs.”

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