Scientex to buy 70% of Chinese packaging firm Mintpack for about RM102 million

Scientex Bhd, through its wholly-owned subsidiary Scientex Packaging (Ayer Keroh) Bhd, entered into a sale and purchase agreement to acquire a 70% interest in Hunan Changcheng Mint New Material Technology Co., Ltd., known as Mintpack, for an estimated RM101.5 million. The contract was signed with Tan Cui Fang, the founder of both Mintpack and Hunan Changcheng Tianyi Information Technology Co., Ltd., which will retain the remaining 30% equity.

Mintpack, incorporated in July 2015 and operating from the Xiangtan Economic and Technological Development Zone in Hunan, specializes in high-quality flexible plastic packaging such as bags and roll films. Scientex views the purchase as a strategic move to broaden its consumer-packaging footprint in China, leveraging Mintpack’s production capacity and client base. The transaction will be funded by a mix of internally generated cash and bank borrowings, and is slated for completion by the end of 2026, subject to regulatory approvals.