Pago acquires interest in Thai converter

The Pago Group, an international manufacturer of self-adhesive labels and labeling systems, is to acquire a minority shareholding interest in Salee Printing, a producer of self-adhesive labels based in Thailand. The Thai label manufacturer will in future be present on the market under the new name of Pago Salee Printing Co. Ltd.

Pago Group will acquire 30 percent of Salee Printing, a subsidiary company of the Salee Industry Public Company Limited with registered office in Thailand. In 2008 it reported sales worth around 9 million euros. The two companies expect this transaction to be completed by the end of August 2009.

Fritz Beglinger, Pago Group CEO, commented: ‘The close cooperation with Salee Printing will strengthen our position with multinational customers in Asia and bring us significantly closer to the goal of providing a transcontinental service to international customers.’

Suchart Chivapornthip, chairman and CEO of Salee Industry, said: ‘With Pago we have been able to acquire a partner who is making a long-term investment in cooperation. Our customers will now benefit from the advantages of a global network with a strong label manufacturer.’

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