Japan's Showa Denko inks agreement with Carabao Group for aluminium can plant

<p>Showa Aluminium Can Corporation (SAC), a consolidated subsidiary of Showa Denko (SDK) yesterday signed a partnership agreement with Carabao Group Public Company Limited (CBG), a beverage maker in Bangkok, with an investment of 700 million bahts to manufacture and sell aluminium cans in Chachoengsao Province, Bangkok.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Beverage-cans%20-%20Copy.jpg" alt="news" width="465" height="226" /></p> <p>The establishment of the new can plant will help SDK to expand its operation mainly in Asia. So, SDK and SAC signed a deal with CBG to achieve the key target. CBG hopes for expansion of its capacity and to ensure a steady supply of aluminium cans. The company uses cans for their export products.</p> <p>The aluminium can plant will have a production capacity of 1 billion cans per annum. The operations are expected to start in October 2018. Carabao owns 74 per cent, SAC 24 per cent and SDK 2 per cent of the joint venture.</p> <p>{googleAdsense}</p> <p>In May 2014, SAC purchased a majority of shares in Hanacans Joint Stock Company (Hanacans) in northern Vietnam. In February 2017, SAC announced that the company will open Hanacans&rsquo; second plant that will manufacture aluminium cans.&nbsp;</p>