# TOPPAN and Toyo Seikan plan Swedish joint venture for lithium-ion battery packaging

TOPPAN Holdings and Toyo Seikan signed a letter of intent to form a joint venture in Sweden to manufacture packaging for automotive lithium-ion batteries, with Toyo Seikan holding 51% and TOPPAN 49%. Operations are expected to start in 2026 or later, with about Y11 billion ($68.6 million) planned investment.

- Type: Acquisition
- Announced: 2024-06-24
- Where: Sweden, Sweden
- Value: $68.6M (11.0B JPY)
- Status: announced
- Products: lithium-ion battery packaging, square cans for lithium-ion batteries
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Toyo Seikan Group Holdings](https://endata.com/companies/2934.md) (partner)
- [Toppan](https://endata.com/companies/8217.md) (partner)

## Sources

- [packaging-gateway.com](https://www.packaging-gateway.com/news/toppan-toyo-seikan-battery-packaging/), 2024-06-24: "Toyo Seikan will own 51% of the JV while the remaining 49% will be held by TOPPAN Holdings."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.