Duni has signed an agreement to acquire in total 60% of the shares in Terinex Siam Co. Ltd., a leading converter and exporter of disposable products, predominantly paper napkins. The acquisition is planned to be completed by mid-August, as the company says in the press release received by Lesprom Network.
Duni acquires 49% of shares directly and 11% of shares indirectly through a joint venture company in Thailand.
Purchase of shares will affect Duni’s net debt with approximately SEK 110 million ($12.8 million) which is covered within existing loan facilities.
“The acquisition of Terinex is an important step in our goal to increase growth in South East Asia. Combining Duni’s premium offer with Terinex and its production capacity creates favorable conditions for increasing market share. It is therefore very encouraging that we now agreed with the founding families to jointly develop the business,” says Thomas Gustafsson, CEO of Duni.
Duni is a leading supplier of innovative table-setting concepts and packaging solutions.
