SMC packaging unit partners with Polish firm

MANILA, Philippines - The packaging unit of diversified conglomerate San Miguel Corp. (SMC) is partnering with a Polish firm for an aluminum can business.

In a statement, San Miguel Yamamura Packaging Corp. (SMYPC) said it will create a joint venture firm with Can-Pack S.A. for a two-piece aluminum can manufacturing business.

The companies will form Can Asia Inc.

“This strategic partnership will further modernize SMYPC’s aluminum can business while utilizing the know-how and technologies of Can Pack Group,” the SMC unit said.

“It also aims to introduce various aluminum can packaging formats to the growing market in the Philippines and the Asia Pacific region,” it added.

Poland-based Can Pack Group is a major player in the global packaging industry with annual revenues of more than $1.4 billion.

It has operations in Ukraine, Romania, Spain, Finland, Russia, Turkey, Morocco, Egypt, India and the United Arab Emirates.

SMYPC said the closing of the share purchase agreement, which grants Can-Pack S.A. a 35-percent stake in Can Asia Inc., is expected to be completed late this year.

SMYPC is a joint venture between SMC and Nihon Yamamura Glass Co. Ltd. of Japan.

It has 3,600 employees within the Philippines and Southeast Asia, allowing it to operate 17 domestic and 10 international facilities.