KUALA LUMPUR, NNA - Asahi Printing Co., a Japanese company specializing in printed packaging materials, will buy two industry peers in Malaysia as part of its strategy to establish manufacturing and marketing bases abroad.
Asahi Printing signed an agreement last Thursday to acquire a 65-percent stake each in Shin-Nippon Industries Sdn. Bhd. and Harleigh (Malaysia) Sdn. Bhd. for about $2.2 million and about $1.36 million, respectively, the Toyama-based firm said in a statement. The acquired shares will be transferred in late September to make the two Malaysian firms subsidiaries of Asahi Printing.
Malaysia is the second foreign country, after Singapore, in which Asahi Printing has established a foothold.
Shin-Nippon Industries, which manufactures a variety of packaging materials including paper and plastic, and Harleigh, which markets these products, are both seen as well established in the Malaysian market for pharmaceutical packaging materials.
Asahi Printing has been expanding its businesses mainly in the core segments – the manufacture and sales of packaging materials for pharmaceuticals and cosmetics (packages, package inserts, labels, etc.) as well as sales of packaging systems.
In 2014, Asahi Printing founded a subsidiary in Singapore, Asahi Printing Singapore Pte. Ltd., as a marketing foothold for overseas operations in order to meet the needs of client companies doing business abroad.