STARFLEX AND THAI UNION TO ESTABLISH A NEW JOINT VENTURE
Starflex and Thai Union to establish a new joint venture. Global seafood giant Thai Union Group PCL (“Thai Union”) has announced that its printing and packaging subsidiary, Thai Union Graphic Co., Ltd. (“Thai Union Graphic”) has signed an MOU to launch a new joint venture with Starflex PCL (“Starflex”), an industry leader in manufacturing and distributing high quality flexible packaging. The new company will be registered with a capital of THB 250 million and Starflex and Thai Union Graphic will each hold 51 percent and 49 percent of ordinary shares respectively.
Printhorn Apithanasriwong, President of Starflex, said:
“Our first goal for this exciting new step will be to construct a new factory to produce and supply flexible packaging mainly for food. With more than 18 years of experience and a solid history of working together with Thai Union we believe that we can work to support them in their sustainability and packaging goals. This partnership will foster research and development of innovation and technology, leading to increased competitiveness and value-added services.”
Thiraphong Chansiri, President & CEO of Thai Union, said:
“Thai Union is committed to sustainability, which is a key pillar of our global business. Mitigating the effects of our packaging on the environment and innovating in our design and production not only addresses key sustainability challenges, but also provides important business benefits. As part of our SeaChange® global sustainability strategy, we have made the commitment that 100 percent of our branded packaging will be reusable, recyclable or compostable by 2025. This new joint venture will help us reach that goal and we are looking forward to working closely with Starflex.”