Feb. 28. 2014 Marubeni Corporation
For the purpose of starting a corrugated container business in Mingaladon Industrial Park (“MIP”), Yangon, Myanmar, GS Paper & Packaging Sdn Bhd (“GSPP”, held by Marubeni Corporation (“Marubeni”) 25%, and Oji Holdings Corporation (“Oji”) 75%), will invest as a major stakeholder along with a local partner. Marubeni is pleased to announce that it has now been decided to conduct the business under a joint venture to be formed by GSPP and a local partner. Operation will start in the first quarter (April-June) of 2015.
Foreign-affiliated companies including Japanese companies are extending their business to Myanmar, a country with inexpensive labor, abundant natural resources and expectations for domestic demand expansion through economic growth. Considering these circumstances, Marubeni forecasts an increase in demand for high-quality corrugated container products. The new joint venture company will incorporate its demand by utilizing well-equipped and modernized converting facilities in Myanmar ahead of its competitors.
Marubeni opened a branch office in Yangon in 1942, and has contributed to the further development of the economy by establishing infrastructure such as power plants. A liaison office was also opened in Naypyitaw in January 2012 with the aim of providing close follow-up of business in Myanmar.
<Joint venture company overview>
・Company name: Oji GS Packaging (Yangon) Co., Ltd.
・Location: MIP, Yangon, Myanmar
・Main business: Manufacturing and sales of corrugated container products (sheet & box).
・Shareholders: GSPP and a local partner
・Start-up: First quarter of 2015
<Description of GSPP>
・Company name: GS Paper & Packaging Sdn Bhd
・Location: Malaysia (Selangor, Penang)
・Main business: Manufacturing and sales of paper and corrugated container products (sheet & box). (The top producer in Malaysia)
・Representative: Mr. Sia Boon Soon (President)