Scientex proposes RM101.5mil acquisition of 70% stake in China-based Mintpack

PETALING JAYA: Scientex Bhd is proposing to acquire a 70% stake in China-based Hunan Changcheng Mint New Material Technology Co Ltd (Mintpack) from Tan Cui Fang and Hunan Changcheng Tianyi Information Technology Co Ltd for RM101.5mil. Mintpack is principally engaged in manufacturing of flexible plastic packaging, specializing in high-quality flexible plastic bags and roll films. In a filing with Bursa Malaysia, Scientex said the proposed acquisition will expand Scientex Group's consumer packaging footprint into China.