SCGP Acquires 75% Stake in Indonesia’s Leading Container Producer Intan Group
SCGP acquired a 75% stake in Indonesia's leading container producers Intan Group to expand the company’s downstream paper-based packaging across Indonesia. 
SCGP acquired a 75% stake in Indonesia's leading container producers Intan Group to expand the company’s downstream paper-based packaging across Indonesia.
10 พ.ค. 2564

SCG Packaging Public Company Limited (SCGP) announced the signing of a conditional share purchase agreement to acquire a 75% stake in PT Indonesia Dirtajaya Aneka Industri Box, PT Bahana Buana Box and PT Rapipack Asritama (collectively, Intan Group) on May 10, 2021 while the remaining stake will be held by existing owners. The purchase will be through TCG Solutions Pte. Ltd., which is a wholly owned subsidiary of Thai Containers Group Company Limited (or TCG), a 70:30 joint venture between SCGP and Rengo Company Limited, Japan.Closing transaction details will be provided in the middle of 2021.
 
Intan Group is one of Indonesia’s leading corrugated container producers and operates in 4 strategic locations namely Surabaya in East Java, Semarang in Central Java, Bekasi in West Java, and Minahasa in North Sulawesi. Its clients are mainly multinational companies  and local brand owners in the food, beverage and consumer segments. In 2020, Intan Group recorded revenue of 1,329 billion Rupiah (approximately 3,057 million Baht) and had combined assets of 755 billion Rupiah (approximately 1,737million Baht).
 
This acquisition of Intan Group is an expansion of SCGP’s downstream paper-based packaging across Indonesia, enhancing SCGP’s capability to serve customers, and reaffirms  SCGP’s commitment and belief in Indonesia’s strong economic growth prospects, while supporting the vibrant consumer sectors’ supply chain. Moreover, SCGP can achieve greater synergy value, not only through a combined customer portfolio, but also from leveraging operational strength, as well as strengthening internal integration with its packaging paper company, PT Fajar Surya Wisesa Tbk.
 
As of 14:51 local time in Thailand, the share price of SCGP rose ฿0.50/share or 0.90% to ฿56.25/share with a trading value of 479 million baht. 