Australian packaging printer, Anzpac, has been purchased by an investor in Hong Kong. The undisclosed company will be taking over the printing business from current owners; Singapore company, New Toyo International Holdings, and its Malaysian subsidiary, Tien Wah Press Holdings (TWPH).
Acting head of operations at Anzpac, Steve Arduin, first told Print21.com.au that the company will be operating under a new name. The new Hong Kong-based owners are expected to take over effective August.
New Toyo first acquired Anzpac in 2008 from British American Tobacco in a $60 million deal. Under the deal, Anzpac operated as a Hong Kong-based outfit between New Toyo and TWPH.
Since September 2014, TWPH had begun the process of moving Anzpac’s gravure printing operations to its facility in Vietnam. In June 2017, the company announced to the Bursa Malaysia stock exchange that it will stop all printing operations in Australia.