MISB is Mondi Consumer Packaging International’s Malaysian site, producing downstream specialtiy consumer packaging films and film-based components including form-fill-seal (FFS) bags.
It has two manufacturing plants in Malaysia, with a total production capacity of 16,800 metric tonnes (MT) per annum (p.a.).
Its geographic focus is mainly on the Asian countries like Malaysia, Japan, and Hong Kong as well as on the Australian market.
Post-acquisition of MISB, Scientex’s consumer packaging production capacity would immediately be boosted by about 30% to 76,800 MT p.a., from 60,000 MT p.a. currently.
For the twelve months period ended 31 December 2014 (FY2014), MISB posted revenue of £22m and profit of £2m.
Lim Peng Jin, managing director of Scientex Berhad, said: “The successful acquisition of MISB would immediately allow the enlarged Scientex Group to expand our clientele to include leading international brands in the food and beverage (F&B) and fast moving consumer goods (FMCG) sectors. Additionally, approximately 70% of MISB’s revenue comprises exports to the Asia Pacific, thus giving us a larger market share in the regional packaging industry.”
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