Business News
Toppan Printing to acquire major Singapore printer SNP Corporation
Thursday 12. June 2008 - Expansion of printing operations in overseas markets to be accelerated through integration of SNP Corporation with its broad overseas customer base
Toppan Printing Co., Ltd. (hereafter Toppan Printing; Head office: Chiyoda Ward, Tokyo; President & CEO: Naoki Adachi) has decided to acquire through a takeover bid the shares of SNP Corporation Limited (hereafter SNP; Head office: Singapore; CEO: Yeo Chee Tong), a major Singapore printer which has operations in China, Singapore and Thailand. SNPs shares, including those held by Singapores Green Dot Capital Pte Ltd (53.55% of issued shares), are to be acquired at a purchase price of 1.76SGD (approximately 136 yen) per share. With this takeover, it is predicted that SNP will become a consolidated subsidiary of Toppan Printing.
Through the integration of SNP, which has many overseas customers, Toppan Printing will accelerate business expansion in overseas markets.
Background and objectives
-Toppan Printing has 29 local subsidiaries in 11 countries. The company is involved in a wide range of business operations based on advanced technology and high quality, including publications, packaging, security and electronics, and provides customers with optimal solutions. In addition to proactively expanding operations through establishing manufacturing and sales bases in China, SNP has outstanding planning capabilities and the ability to manufacture high quality products for books for Europe, the U.S. and Australia. The company has grown remarkably in recent years.
-In particular, the Chinese printing market has grown dramatically since entry into the WTO in 2001 and it is predicted that it will be worth 7.1 trillion yen in 2011. The scale of the market for packaging and publications is large and growth is anticipated in the future.
-By linking up with SNP, Toppan Printing will be able to instantly establish a significant presence overseas. SNP will be able to further expand its business in the Asian market supported by the credibility and technological capabilities that Toppan Printing has as a company boasting sales of over 1.6 trillion yen.
-In particular, Toppan Printing will exploit its resources focused on packaging. By bringing together advanced technology and SNPs overseas manufacturing and sales network, Toppan Printing will engage in full scale advancement of business integrating manufacture and sales in overseas markets.
Overview of the takeover
-Overview of the target company (as of December 2007)
Name: SNP Corporation Limited
Business content: Books, magazines, commercial printing such as packaging, printing of securities, etc.
Established: 1973
Head office location: 1 Kim Seng Promenade #18-01 Great World City East Tower, Singapore 237994
Representative: Yeo Chee Tong, Executive Director & CEO
Capital: 66 million SGD
Number of employees: Approximately 8,000
This takeover is being performed with the cooperation of the Development Bank of Japan