Scientex Packaging Film has signed a share purchase agreement to acquire Mondi Ipoh Sdn Bhd (MISB) for RM 58.0 million (US$14.71 million) to expand its consumer packaging division.
The purchase will see Scientex’s wholly-owned subsidiary Scientex Packaging Film acquire a 100% stake in MISB from Mondi Consumer Packaging International GmbH, a wholly-owned subsidiary of Mondi.
“Approximately 70% of MISB’s revenue comprises exports to Asia Pacific, thus giving us a larger market share in the regional packaging industry,” says MISB.
