Showa Denko (SDK) Acquisition of Vietnamese Aluminum Can Maker Completed
November 22, 2014     Japanese 
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Showa Denko (SDK) Acquisition of Vietnamese Aluminum Can Maker Completed - JCN Newswire
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Showa Denko (SDK) Acquisition of Vietnamese Aluminum Can Maker Completed

Tokyo, June 3, 2014 - (JCN Newswire) - Showa Denko (SDK) (TOKYO:4004) and its wholly owned subsidiary Showa Aluminum Can Corporation (SAC) have completed the procedures for acquiring controlling stakes in Rexam-Hanacans Joint Stock Company (Hanacans), of Vietnam. Hanacans, a manufacturer of aluminum beverage cans, has become a member of the Showa Denko Group effective May 30.

This acquisition represents the first overseas investment of the Group in the field of aluminum can business. (For the background of the investment, please refer to our earlier news release of January 8, 2014.)

Hanacans is the largest aluminum can producer in the northern region of Vietnam (based on the production capacity as of today). The company has a solid customer base, serving a wide range of local beverage makers. Furthermore, Hanacans will introduce SAC's advanced production technology and quality control system, thereby strengthening its competitive power in the growing Vietnamese market.
Outline of Hanacans

Company name:   Rexam-Hanacans Joint Stock Company (To be changed)
Head office:    Bac Ninh Province, Vietnam (20 km from Hanoi)
Capital stock:  383,987 million Dong (Approx. JPY 1,830 million )
Shareholders:   Showa Aluminum Can Corporation: 90%
                Showa Denko K.K.: 1.75%
Hanaka Group:   8.25%
Representative: Ken-ichi Taguchi (General Director)
Business:       Production and sale of aluminum cans for beer and 
                other types of beverages
Employees:      Around 170

About Showa Denko

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. SDK makes petrochemicals (ethylene, propylene), aluminum products (ingots, rods), electronic equipment (hard disks for computers) and inorganic materials (ceramics, carbons). The company has overseas operations and a joint venture with Netherlands-based Montell and Nippon Petrochemicals to make and market polypropylenes. In March 2001, SDK merged with Showa Denko Aluminum Corporation to strengthen the high-value-added fabricated aluminum products operations, and is today developing next-generation optical communications-use wafers. For more information, please visit www.sdk.co.jp .

Contact:

Showa Denko (SDK) K.K.
Public Relations Office
Phone: +81-3-5470-3235
 


June 3, 2014
Source: Showa Denko

Showa Denko (TSE: 4004) (U.S: SHWDF)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Merger & Acquisition
View more news from these Sectors: Chemicals, Metals & Mining


 
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