Oji Holdings Corporation announces that the decision to incorporate a subsidiary in Myanmar to build and start operation of a new corrugated container factory in Mingaladon Industrial Park, which is located in the suburbs of Yangon city, Myanmar, has been approved of the Board of Director.
As one of the key measures of our business portfolio restructuring, Oji Group has been aggressively expanding its Packaging business in Southeast Asia and India.
Following its transition to a democratic government in 2011, Republic of the Union of Myanmar, with its rich natural resources, has been attracting worldwide attention as an investment destination, and undergoing rapid economic growth recently. In particularly, in Yangon, which is the economic center of Myanmar, aggressive investment from the world has been progressing and market entries into industries such as textile and garment, food and beverage, etc has been continuing.
Currently, only a few suppliers of corrugated container are equipped with modernized converting facilities in Myanmar, and Oji Holdings will be the first major international manufacturer to operate in this country.
As of now, Oji Group’s Packaging business in Southeast Asia, consists of 18 manufacturing sites. In addition, with the decision to acquire UPJV in Vietnam in December, 2013, and the construction of a new factory in India that is scheduled to start up in July, 2014, this new factory in Myanmar will be the 21st manufacturing site in Southeast Asia and India.
