SCGP has acquired a 90% stake in VEM (THAILAND) COMPANY LIMITED or “VEM-TH” to strengthen its strategy to grow the healthcare packaging and supplies business. This acquisition enhances the production capabilities and extends the product lines of Deltalab S.L. and Bicappa Lab S.r.L. to meet the increasing demand.
Wichan Jitpukdee, Chief Executive Officer of SCG Packaging Public Company Limited or SCGP, disclosed on July 1, 2024 that the Company acquired a 90% stake VEM (THAILAND) COMPANY LIMITED (VEM-TH), a manufacturer of high-performance polymer injection molding parts. The investment is valued at no more than USD 4.0 million, approximately Baht 146.2 million. The financial performance of this acquisition will be consolidated from July 2024 onward.
The investment in the form of growth through Merger and Partnership (M&P) is part of SCGP’s strategy to expand its healthcare packaging and supplies business. This move aims to meet the increasing demand for such products. Previously, SCGP invested in Deltalab S.L., an expert in the production and distribution of medical supplies and labware in Spain, and Bicappa Lab S.r.L, a specialist in the production of Labware such as pipette tips in Italy. VEM-TH, located in Rayong Province, operates 30 plastic injection mold production lines that comply with ISO 13485, the quality management standard for medical devices. The facility includes certified cleanrooms of class 8 and class 7, producing over 59 million pieces of premium quality products per year. In 2023, VEM-TH reported a revenue of approximately Baht 302 million and had assets totaling Baht 455 million.
VEM-TH has a customer base that serves fast-growing clients in the medical, aircraft, electrical parts, and automotive industries, with a broad market coverage including Thailand, the USA, China, and other countries. VEM-TH will enhance, and add to, the production capabilities of Deltalab S.L. and Bicappa Lab S.r.L. to meet the growing demand and enable SCGP to expand its international customer network more robustly and comprehensively.
Published on: Jul 1, 2024
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