Scientex Berhad has announced plans to acquire a 70% equity interest in Hunan Changcheng Mint New Material Technology Co., Ltd. a flexible packaging enterprise in China, for a cash consideration of RMB167.3 million (approximately RM101.5 million).
The proposed acquisition is undertaken through the Group’s wholly-owned subsidiary, Scientex Packaging (Ayer Keroh) Bhd (SPAK), which entered into an Equity Interest Sale and Purchase Agreement. Upon completion, Mintpack will become a 70%-owned unit of SPAK and an indirect subsidiary of Scientex, with the founding management retaining a 30% stake and continuing to contribute to its next phase of growth.
Mintpack brings over four decades of industry expertise and customer trust within China’s flexible packaging sector. The company serves premier brand owners across the food and beverage, savoury snacks, condiments, pet food, home and personal care, and beauty segments.
The manufacturing base features more than 42,000 square meters of integrated production space. The facility houses automated manufacturing lines with capabilities in high- precision printing, lamination, bag and pouch converting, and specialized finishing.
