News Release
Acquisition of Shares in CAS Technology Pte Ltd in Singapore and Conversion to Subsidiary
Japan Pulp & Paper Co., Ltd. (Head Office: Tokyo, Japan; Representative Director President & CEO: Akihiko Watanabe; hereinafter “the Company”) hereby announces that OVOL Singapore Pte Ltd (Head Office: Singapore; CEO: Genevieve Chua; hereinafter “OVOL SG”), a consolidated subsidiary of the Company, has acquired shares in CAS Technology Pte Ltd (Head Office: Singapore; hereinafter “CAS Tech”), a sign & display hardware sales and technical services company operating in Singapore.
1. Background and Purpose
One of the policies of the Non-Japan Wholesaling segment in Medium-term Business Plan 2023 is to strengthen sales of high-value-added products such as sign & display media and hardware, and packaging by incorporating complementary M&A into the existing sales network, and this acquisition of shares is in line with that policy.
2. Outline
Overview of the Transferor of Shares
| Name | CAS Technology Pte Ltd |
|---|---|
| Head Office Location | Singapore |
| Representative | Sia Siak Yong |
| Business Outline | Sign & display hardware sales and technical services |
Overview of the Acquirer of Shares
| Name | OVOL Singapore Pte Ltd |
|---|---|
| Head Office Location | Singapore |
| Representative | Genevieve Chua |
| Business Outline | Wholesale of paper and packaging materials and sale of sign & display media |
OVOL SG is a leading company in the paper distribution industry in Singapore and has recently been diversifying its business by focusing on sign and display media sales. With this acquisition of shares, the OVOL Japan Pulp & Paper Group will be able to make inroads into the Singapore sign and display market, not only through traditional media sales, but also through hardware sales and technical services. With this we will be able to further expand our customer service and sales base by acquiring the strong hardware supplier base and technical service know-how of CAS Tech, a market leader, and by combining this with our existing media sales to provide a one-stop solution.
In addition to its mainstay paper and packaging materials wholesale business, OVOL SG aims to achieve further growth by diversifying its business through the thermal transfer ribbon processing business at Transam Industries, which became a group company in 2023, and the sign and display business at CAS Tech, which it has acquired this time.
For inquiries regarding this matter, please contact:
The Japan Pulp & Paper Co., Ltd. Public Relations Office on +81-3-5548-4026
