Thai Union Group’s printing and packaging subsidiary has launched a new joint venture with Starflex, an industry leader in manufacturing and distributing flexible packaging.
The new company will be registered with a capital of THB 250 million (€6.4 million) and Starflex and Thai Union Graphic will hold 51% and 49% of ordinary shares respectively.
Thiraphong Chansiri, president and chief executive of Thai Union, said that sustainability was a key pillar of the company’s business. “Mitigating the effects of our packaging on the environment and innovating in our design and production not only addresses key sustainability challenges, but also provides important business benefits,” he said.
“As part of our SeaChange global sustainability strategy, we have made the commitment that 100 per cent of our branded packaging will be reusable, recyclable or compostable by 2025,” he added.
The companies hope that the partnership will foster research and development of innovation and technology, leading to increased competitiveness and improved services.
“Our first goal for this exciting new step will be to construct a new factory to produce and supply flexible packaging mainly for food,” explained Printhorn Apithanasriwong, president of Starflex.
“With more than 18 years of experience and a solid history of working together with Thai Union we believe that we can work to support them in their sustainability and packaging goals,” he said.
