Between them, the partners will invest a total of US$5 million in equity to start the joint venture with initial capacity provided through equipment transfers from existing CCL and Taisei Kako tube operations. The partners will each own 50% of the new company. CCL's interest in the joint venture will be represented by Jim Anzai, vice president and managing director of its Asian operations.
"We are very pleased to have found such an advanced technology company as Taisei Kako to help us build our Tube business in Asia,” Geoffrey Martin, president and CEO of CCL Industries said. “The new operation will focus on selling tubes alongside labels to existing CCL customers in the Home & Personal Care sector in South East Asia, while exporting products to customers of Taisei Kako in the same sector in Japan. We believe this is an excellent opportunity for CCL to expand our successful Tube business into the most important emerging market for these products in the world."
Headquartered in Osaka, Japan, Taisei Kako currently employs approximately 950 people in nine plants mainly located in Asia to meet the needs of customers demanding high quality cosmetic, medical and pharmaceutical packaging. Taisei Kako has a fully automated round the clock manufacturing system with highly advanced digital inspection technology. Taisei Kako has produced high quality plastic packaging for healthcare and beauty care customers in Japan since it was founded in 1932.