Thai Union has announced a new partnership between its subsidiary Thai Union Graphic Co., Ltd. (TGU) and Starflex Public Company Limited (SFLEX).
TGU specializes in servicing and manufacturing of printing and packaging, while SFLEX is” a manufacturer and distributor of flexible packaging.
The two companies have agreed to establish Star Union Packaging Co., Ltd, which will focus on manufacturing and distributing of flexible packaging. The joint venture will consider developing new packaging or products in the future. Star Union Packaging has a registered capital of THB 1 million (USD 29,080, EUR 27,640) and will be located in Bangkok, Thailand. TGU will hold a 49.99 percent stake in the new company, with the other 49.97 percent owned by SFLEX, and 0.04 percent by others.
Thai Union said it hopes the “joint investment in establishment of a new company with SFLEX, an industry leader in manufacturing and distributing high quality flexible packaging with strong expertise and knowledge in the field, is appropriate and benefits to the company.”
On 26 April, Thai Union Group announced that it and two other partners have finalized the establishment of a joint venture that will make and sell food ingredients in the Indian market.
The newly-formed company, RBS - TU Food Ingredients, was registered in India on 26 April and will have authorized capital of INR 100 million (USD 2.9 million, EUR 2.7 million), with issued and paid-up capital of INR 76 million (USD 2.2 million, EUR 2.1 million), Thai Union announced.
Thai Union holds a 19 percent stake in RBF. The other stakeholders are R&B Food Supply Public Company Limited (51 percent) and Srinivasa Cystine Private Limited, an associate company of the shrimp-focused Avanti Group, which has a 30 percent stake.
Photo courtesy of T. Schneider/Shutterstock
