Deals this week: Toyobo, UPM Raflatac
Japanese company Toyobo has reached an agreement with Trias Sentosa (Trias) to set up two joint venture (JV) firms to manufacture and sell the company’s film solutions in Indonesia.
Trias Toyobo Astria (TTA), one of the two JV firms, will manufacture and supply polyester films, while Toyobo Trias Ecosyar (TTE) will produce Toyobo's transparent vapour-deposited film Ecosyar.
Expected to start operations in the second half of 2019, the two JV firms will use Trias’ production infrastructure.
Trias is a flexible packaging film producer based in Indonesia.
UPM Raflatac, a Finland-based supplier of self-adhesive label materials, has acquired the assets of US-based Southwest Label Stock.
UPM Raflatac provides pressure-sensitive labelling solutions for the pharmaceuticals, food and beverage industries.
It aims to expand its footprint in the US, while providing services in Texas and other south-western parts of the country through the asset purchase.