VOL. 24 May ISSUE YEAR 2023


in Vol. 24 - May Issue - Year 2023
Industrial News: Toyo Ink Group Signs a Share Purchase Agreement to Wholly Acquire Thai Eurocoat
Exterior view of Thai Eurocoat Ltd.

Exterior view of Thai Eurocoat Ltd.

In the Spotlight

About Toyo Ink SC Holdings Co., Ltd. Headquartered in Tokyo Japan, Toyo Ink SC Holdings Co., Ltd., the parent company of Toyo Ink Group, is a scientific company with specialty chemicals at its core. Originally starting out as a printing ink manufacturer in 1896, the company is a developer and marketer of its own unique specialty chemical materials based on functional pigments and polymers, the raw materials in printing inks. Toyo Ink Group operates its corporate activities under four business segments—Colorants and Functional Materials, Polymers and Coatings, Packaging Materials, and Printing and Information—while it expands applications to the healthcare, electronics devices, energy and related sectors. About Toyo Ink (Thailand) Co., Ltd. Established in 1971, Toyo Ink (Thailand) Co., Ltd. is a wholly owned subsidiary of Toyo Ink SC Holdings Co., Ltd., the parent company of Toyo Ink Group of Japan. With an extensive network of production facilities in the Bangchan and Wellgrow industrial estates, the company has evolved into a leading manufacturer of polymers, plastic colorants and pressure-sensitive adhesives in addition to its mainstay inks and coatings. Headquartered in Bangkok, the company continues to serve as an important strategic production platform on which the Group strives to expand its business activities around the world.

Aiming to become the top metal coatings producer in the ASEAN canned food market.

March 14, 2023, Tokyo, Japan and Bangkok, Thailand—Toyo Ink SC Holdings Co., Ltd., the Japan-based parent company of the specialty chemicals company Toyo Ink Group, today announced that, on March 10, 2023, it and its consolidated subsidiary Toyo Ink (Thailand) Co., Ltd. concluded a share purchase agreement to wholly acquire Thai Eurocoat Ltd., the top manufacturer of external coatings for non-printed cans in the Thai canned food market. Following the transfer of shares, Thai Eurocoat, which is based in Samut Sakhon province, will retain its name and operate as a business unit of Bangkok-based Toyo Ink Thailand. Through the acquisition, the Toyo Ink Group will expand its regional business operations with the aim of becoming the top metal coatings supplier in the ASEAN canned food market.

Metal cans have long been used as food and beverage containers as they are highly airtight and durable for long-term storage and transportation. Can coatings are applied to the interiors and exteriors of steel and aluminum cans to preserve the quality of packaged food, beverage or other products, and to protect the metal surface appearance and integrity against abrasion. In recent years, metal packaging has been garnering greater attention as global demand for processed foods has been strong because of rising populations and incomes, and a renewed focus on metal packaging due to their recyclability. As a result of these trends, the global canned food market is expected to grow by more than 130% by 2026 compared to 2020. To meet with the increase in future demand, Toyo Ink Group aims to leverage its own technological strengths with the product commercialization capability of Thai Eurocoat.
“We are pleased to welcome Thai Eurocoat to join Toyo Ink Group family,” said Jun Mikoshiba, President of Toyo Ink Thailand. “The Group has been operating in Thailand since 1971 and began the local production of can coatings in 1988 with the establishment of Toyo Ink Thailand. Over the years, we’ve expanded our business by taking advantage of our ability to develop advanced resins, mainly for can coatings that require high functionality. Thai Eurocoat is expected to complement these operations and to expand our business throughout the ASEAN region. Thai Eurocoat has a solid reputation among its customers for its product customization and commercialization knowhow based on a strong customer-focused approach in product development. By combining our strengths, we aim to further reinforce our capability to resolve customers’ issues with innovative metal packaging solutions that our customers will continue to trust.”

For Information:
Toyo Ink SC Holdings Co., Ltd.
Corporate Communication Department
E-mail: info@toyoinkgroup.com