Monday 02. May 2011
Shiner International Announces Acquisition of Water-Based Coatings Manufacturer
Shiner International, Inc. (NASDAQ: BEST) (“Shiner” or the “Company”), an emerging global supplier of packaging solutions for food, tobacco, and consumer products, today announced that it has acquired 100% of the stock of Shimmer Sun Ltd. (“Shimmer”) for $3.2 million in cash. The acquisition gives Shiner a 65% controlling interest in Shimmer’s subsidiary company, Ningbo Neisuoer Latex Co., Ltd. (“Ningbo Neisuoer”). Ningbo Neisuoer is a recognized leader in the field of specialty water-based coatings, which are used to produce advanced coated films.