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TOKYO, Dec 7, 2018 - (JCN Newswire) - Showa Denko (SDK; TSE:4004), Showa Aluminum Can Corporation (SAC), a consolidated subsidiary of SDK, and Carabao Group PCL (CBG), a leading beverage maker headquartered in Bangkok, jointly held a ceremony on December 6 for the completion of a new aluminum can factory owned and operated by Asia Can Manufacturing Co., Ltd. (ACM). ACM is a can manufacturing company established in June 2017 as a joint venture among SDK, SAC and CBG, and had been conducting the project to construct the new factory since then.
 | | Completion ceremony |
 | | (left to right) Mr. Sathien Setthasit, Chairman of CBG and Mr. Hideo Ichikawa, Chairman of SDK |
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. As a result of the completion of the new aluminum can factory of ACM, Showa Denko Group's capacity to manufacture aluminum cans in Southeast Asia has been expanded to 3 billion cans a year, including that of Hanacans Joint Stock Company of Vietnam.
After the start-up of operations of the new factory, ACM 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. ACM 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.
Outline of the joint corporation
Company name: Asia Can Manufacturing Co., Ltd.
Scope of business: Production and sale of aluminum cans
Construction site: Bang Pakong, Chachoengsao Province, the Kingdom of Thailand
Establishment: June 15, 2017
Capital: 700 million bahts
Shareholders: CBG (74%); SAC (24%); SDK (2%)
Contact:
Showa Denko K.K. Public Relations Office, Tel: +81-3-5470-3235.
Topic: Press release summary
Source: Showa Denko K.K.
Sectors: Metals & Mining, Chemicals, Spec.Chem, Print & Package
http://www.acnnewswire.com
From the Asia Corporate News Network
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