SCGP acquires additional 30 per cent stake in Duy Tan Plastics

This investment is intended to broaden its range of solutions, diversify its product offerings, and deliver integrated services in response to the growing demand for packaging solutions. The investment follows SCGP's acquisition of 70 per cent of Duy Tan JSC in 2021.

Wichan Jitpukdee, CEO of SCGP, said that the company has purchased an additional 30 per cent stake in Duy Tan JSC, Vietnam’s leading producer of rigid plastic packaging products. The investment, totalling VND2.83 trillion (approximately $108.8 million), raises SCGP’s total shareholding to 100 per cent.

"This move aligns with SCGP’s strategic focus on expanding its consumer packaging business and penetrating high-growth domestic markets within the ASEAN region. Vietnam is a high-potential market due to economic growth and continuous inflow of foreign direct investment. Additionally, Duy Tan JSC offers leading proprietary branded products, which enhance the company’s competitive edge and support the company’s continued growth," Jitpukdee added.

Duy Tan JSC operates five manufacturing facilities in Vietnam and offers packaging solutions, innovations, and sustainable packaging to address evolving consumer lifestyles. Its customer base includes business-to-business clients such as multinational corporations and leading consumer goods manufacturers in Vietnam, as well as business-to-consumer clients.

In 2024, Duy Tan recorded revenue of VND5.38 trillion ($206.8 million) and a net profit of VND578 billion ($22.2 million), with total assets of VND4.63 trillion ($178 million).

The company is focused on fostering business synergies to develop innovative and comprehensive packaging solutions that offer greater variety and integration. This investment aligns with the company’s restructuring plan to operate a fully integrated packaging business in ASEAN, particularly in Vietnam and Indonesia, to ensure sustainable long-term growth in the region.

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