Nippon Paper Industries acquires TS Plastics in Malaysia

Nippon Paper Industries reached an agreement with TS Plastics Sdn. Bhd. to acquire a 70％ share of the company and completed the acquisition on March 25, 2019.

TS Plastics is a flexible packaging company, located in Malaysia. It has around 74 Million Malaysian Ringgit (about JPY 2 billion) in sales.

According to the announcement, the company continues to work on the promotion of its business structural shift, focusing on the development of its packaging business, one of its growth segments.

The acquisition of TSP is expected to move it forward with the expansion of the value chain for the packaging business on a global scale, following the announcement of paper-based barrier material development.

Nippon Paper Industries aims to expand its business in Asia based on the expertise on flexible packaging technology that TSP has accumulated for more than 20 years and its customer base, as well as by taking full advantage of the company’s capacity for technological development and the group’s sales network, while responding appropriately to the new demands of package users.