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O.R.G. Technology's offeror Huarui Fengquan received valid acceptances for 286 million COFCO Packaging shares, about 25.68%, lifting O.R.G.'s stake to 50.11%. The offer became unconditional in all aspects.
Ourjin (002701.SZ) plans a voluntary conditional cash general offer at HK$7.21 per share to acquire all issued shares of COFCO Packaging (00906), with total consideration capped at HK$6.066 billion (about RMB 5.524 billion). The offer is backed by an irrevocable commitment from shareholder Zhang Wei holding about 22% of the target.
Hong Kong-backed Benepack Hungary is building an aluminium can factory in Makó's industrial park, with a €65 million investment whose foundation stone was laid on 26 September 2023. The plant is due to open in September 2024 with 120 jobs and capacity of up to one billion cans a year.
COFCO Packaging signed a framework agreement with Haoneng (Hong Kong) and Ourgold Development to form a joint venture in Hong Kong for a second aluminum two-piece can plant in Central and Eastern Europe. The JV has registered capital of EUR 22.3 million, split 40%, 30% and 30%.
COFCO Packaging (00906) plans a two-piece can factory in Shenyang with total investment of about RMB 600 million. Phase one is expected to start construction in the first half of 2022 with 1 billion cans a year capacity, and phase two adds 700 million cans a year.
COFCO Packaging's subsidiary agreed to buy a 23% stake in Wuxi Huapeng Bottle Cap from Crown Asia Pacific for RMB 53.3987 million, raising its holding to about 84.48%.
COFCO Packaging signed a packaging supply agreement with Chinese herbal tea maker Jia Duo Bao (JDB) under which COFCO will produce 70% of the metal cans JDB needs in 2019. The deal was signed in Beijing and reported on 15 January 2019.
