Ajinomoto disposes of stake in Maypak

PETALING JAYA: Ajinomoto (Malaysia) Bhd is disposing of its 5% equity interest in Malaysia Packaging Industry Bhd (Maypak) to Taisei Lamick Co Ltd for RM1.37 million.

In a filing with Bursa Malaysia yesterday, the company said that it has accepted the unconditional mandatory takeover offer from Taisei to dispose of its entire shareholding of 2.1 million ordinary shares of RM1 each in the capital of Maypak at an offer price of 65 sen per share.

Maypak is a manufacturer of flexible packaging materials for various industries. Its products include retort pouch, dairies packaging, condom packaging as well as packaging for beverages and frozen foods.

Besides conventional packaging products, it also produces special application packaging for the medical, prophylactics, pharmaceutical, special food, seasoning and electronic industry.