29.07.2013

Asia Packaging acquires property for Yuanxing Packaging manufacturing operations

Asia Packaging, a manufacturer of packaging products and services to the food pharmaceutical and retail industries in China, has announced the acquisition of property for Yuanxing Packaging (China) manufacturing operations in Fujian Province.

The company signed a land acquisition deal involving the purchase of the land use right and associated buildings for RMB120m ($19.6m) with Fujian Xinshidai Industry Trade Development Company. Subsequent to the company's fiscal year end on 31 March 2013, closing of the acquisition and transfers of the land use right was completed.

With the completion of the acquisition of Yuanxing Packaging earlier this year, the company has added a bag manufacturing facility located in Fujian Province and sales offices in Guangzhou and Shanghai.


Related News