May. 27. 2016
Marubeni Corporation (“Marubeni”) and Oji Holdings Corporation (“Oji Holdings”) has entered into a Sale and Purchase agreement to acquire 76% of the shares of leading Malaysian thermal and carbonless paper converting and printing company, TELE-PAPER (M) Sdn Bhd (“TP”). As a result of this investment, the share ratio of TP will be Marubeni 36%, Oji Holdings 40%, and current owners 24%.
TP’s main product is thermal paper, which includes a wide range of products such as thermal register rolls, ATM account statements, baggage tags, boarding passes, lottery tickets, parking tickets and medical recording papers. The thermal paper market is increasing worldwide and is especially expected to grow at a faster rate in South East Asia due to industry modernization.
With the top share in Malaysia in terms of processed thermal paper sales, and exporting primarily to ASEAN as well as other countries around the world, TP is proud to be one of the largest paper converting and printing companies in ASEAN. Marubeni, assisted by TP’s in-house technologies, market knowledge and experienced management team, will expand the thermal paper business in the Asian market.
|Company Name||TELE-PAPER (M) Sdn Bhd|
|Location||Shah Alam, Selangor, Malaysia|
|Main Business||converting and printing of thermal, carbonless paper|
(FY 2015) *Before audit
|RM189M (JY5.3billion) / RM184M (JY5.2billion)|
|Employees||590 (December 2015)|