03 October 2012 12:24 [Source: ICIS news]
LONDON (ICIS)--Scientex is to acquire two plastic film manufacturing subsidiaries of GW Plastics Holdings for a total of Malaysian ringitt (M$) 283.20m ($92.6m), the Malaysian conglomerate said on Wednesday.
Scientex is to acquire 88m shares in Malaysia’s Great Wall Plastic Industries (GW Plastic), which produces blown plastic film packaging products, and 6m shares in GW Packaging, which produces cast plastic film packaging products, representing the whole issued share capital of each business.
The acquisitions, which remain subject to approval, are to be financed entirely with cash.
(M$1 = US$0.327)
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