Tuesday, August 12th, 2014
SEOUL, KOREA - Dongwon Group will acquire Techpack Solutions Inc., Korea's No. 1 packaging material manufacturer. Dongwon Systems, a Dongwon Group company, said on August 11 that it would purchase the 100-percent stake in Techpack Solutions from MBK Partners, a private equity fund firm. The price is estimated at 450-500 billion won.
Techpack, the manufacturer of glass bottles, plastic pallets, PET bottles, and aluminum bottle cans, posted 349.8 billion won in sales revenue and 21.0 billion won in operating profit last year.
Earlier in November 2008, MBK Partners had bought the company from Doosan Group, which was under a major restructuring, at 392 billion won. The bidding for the packaging material supplier has attracted Hanil Can Co., the world's largest beverage can manufacturer Rexam PLC, and Owens-Illinois Inc., but Dongwon Systems finally became the successful bidder.
Dongwon Systems produces aluminum containers for the tuna products and communications components. The company expects to expand into the packaging material market after the acquisition of Techpack Solutions.
