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Given that the packaging industry is currently experiencing an annual growth rate of 6 per cent, this investment is well timed and will expand SCG’s growing portfolio, which contains two flexible packaging factories in Thailand and another two in Vietnam.
This new investment is expected to bolster the group’s position as a packaging solutions provider for the entire Southeast Asian region.
Batico is among Vietnam’s five largest packaging producers, making 230 million square metres of packaging per year. In 2014, it generated around $41 million in revenue. The company currently operates an 18,500 square metre factory in the southern province of Long An’s Duc Hoa district.
Batico is the latest name in a series of domestic firms that have been bought up by SCG. The group’s recent acquisition of an 85 per cent stake in Prime Group, a domestic building material producer, has made it the world’s largest ceramic tile maker. assets, an increase of 16 per cent year-on-year.
In 1992, SCG began its regional expansion with Vietnam as its strategic hub. Currently, SCG has 22 various operations in Vietnam, with more than $716 million in total assets, and more than 6,500 local employees.