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SCG buys majority stake in Indonesian paper packaging firm Fajar for $665m

Thailand-based SCG has purchased a majority stake in Indonesian paper packaging firm Fajar Surya Wisesa for around THB21.15bn ($665m).

SCG buys majority stake in Indonesian paper packaging firm Fajar for $665m

Fajar Surya produces a wide range of products, including linerboard (KLB) and corrugated medium paper (CMP) for carton box packaging and coated duplex board (CDB) for display packaging.

With six paper machines, the company produces around 1.3 million tons of packaging papers per annum.

SCG president and CEO Roongrote Rangsiyopash said: “SCG is thriving to push forward long-term growth as one of its key strategies in 2019 by continuously expanding its businesses in ASEAN countries. Recently, Packaging Business of SCG invests in a 55% stake in PT. Fajar Surya Wisesa Tbk. (or “Fajar”), a leading Indonesian packaging paper company and also a listed company on the Indonesia Stock Exchange”.

The acquisition is part of SCG’s strategy to become a total packing solutions provider by establishing more production base in ASEAN countries such as Vietnam, Malaysia, Indonesia, and the Philippines.

The Thai firm’s packaging business has been developing innovations and technologies to add value to products, services and production process to fulfill the requirements of enterprises and consumers’ consumption.

Rangsiyopash further added: “The major shareholding in Fajar will allow SCG to enhance its ASEAN growth, especially in Indonesia that provides tremendous future growth opportunity for Packaging Business”.

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