SCG today has announced the acquiring in Norner Holding AS (Norner Group), a leading Innovation and Technology center, specializing in material and polymer industries, located in Norway, aiming to strengthen R&D of the company. The company also acquired 90% stake in PT Indoris Printingdo (Indoris). The acquisition is aimed to develop HVA products, enhance competitiveness and strive towards ASEAN sustainable business leader.

Mr. Kan Trakulhoon, President and CEO of SCG announced that SCG Chemicals Company Limited has purchased an initial 51% stake in Norner Holding AS (Norner Group), whereby the remaining 49% stake will be acquired by September 2015. This transaction for the entire 100% stake is valued at 340 MB.

Norner Group is an Innovation and Technology center, specializing in material and polymer industries, with facilities located in Stathelle, Norway. Today, its consultancy service ranges from polymerization to plastics application in various applications, including oil&gas, pipe, packaging, etc. Equipped with its own comprehensive scientific lab, researchers and technicians, Norner Group prides itself as one of the leading plastics R&D center globally.

Moreover, Thai Containers Group Company Limited (TCG), a 70:30 joint venture between SCG Paper Public Company Limited and Rengo Company Limited (Japan), has acquired a 90% stake in PT Indoris Printingdo (Indoris). This transaction has an enterprise value of 290 MB and includes debt of 60 MB.

Indoris is a manufacturer of high quality packaging products mainly for its Indonesian-based multinational customers. With a combined capacity of 8,000 tons per year, production is primarily high value added products (HVA), such as offset cartons. Its facilities are located in the city of Tangerang, which is approximately 40 kilometers west of Jakarta, and registered sales amounted to 153 MB in 2013.

These investments reflect the determination of SCG to continue to develop HVA, which will allow competitiveness enhancement and sustainability, and to enhance the SCG's strategic entry into the Indonesian packaging market, following the September 2013 acquisition of PT Primacorr Mandiri. SCG remained committed towards tapping this growth opportunity to strive towards ASEAN sustainable business leader.



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