TOKYO, July 13, 2017 - (JCN Newswire) - Showa Denko ("SDK"; TSE:4004), Showa Aluminum Can Corporation (SAC), which is a consolidated subsidiary of SDK, and Carabao Group Public Company Limited (CBG), which is a leading beverage maker headquartered in Bangkok, Thailand, have established a joint corporation "Asia Pacific Can Company Limited" (APC) to manufacture and sell aluminum cans, and had a foundation stone laying ceremony today.
Establishment of APC was decided by the three founding parties in March 2017. After the start-up of operations of the factory which is scheduled for October 2018, APC will mainly manufacture aluminum cans for CBG's beverages for export from Thailand. CBG aims to expand its overseas sales, centering on Southeast Asian countries, China and the United Kingdom. APC will support CBG's overseas operations through stable supply of high-quality aluminum cans manufactured by leading-edge technologies and quality management system built up by SAC over many years. The Showa Denko Group positions its aluminum can business as "Growth-accelerating" business in its ongoing medium-term business plan "Project 2020+," and has been promoting business expansion strategy targeted at Southeast Asia. APC will be the Showa Denko Group's second overseas can production base following Hanacans Joint Stock Company of Vietnam. The Showa Denko Group will utilize APC's business development for the formation of its best marketing mix in Southeast Asia.
Outline of the joint corporation
Company name: Asia Pacific Can Company Limited
Scope of business: Production and sale of aluminum cans
Construction site: Bang Pakong, Chachoengsao Province, the Kingdom of Thailand
Establishment: June 15, 2017
Startup of operations: October 2018 (planned)
Capital: 700 million bahts
Shareholders: CBG (74%); SAC (24%); SDK (2%)
About Showa Denko K.K.
Showa Denko K.K. ("SDK"; TSE:4004, US:SHWDF) is a major manufacturer and marketer of chemical products serving a wide range of fields ranging from heavy industry to the electronic and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial and high-performance gases and chemicals and high-purity gases and chemicals for the semiconductor industry, and the Inorganics Sector provides ceramics products such as alumina, abrasive, refractory and graphite electrodes and fine carbon products. Today, the Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.
Public Relations Office
July 13, 2017 18:00 HKT/SGT
Source: Showa Denko K.K.
Showa Denko K.K. (TSE: 4004)
Topic: Press release summary
From the Asia Corporate News Network
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