Shiner International, manufacturer and supplier of flexible packaging materials, has announced 100% stock acquisition of Shimmer Sun.
Through this purchase, Shiner receives 65% controlling rights in Ningbo Neisuoer Latex, a subsidiary of Shimmer Sun.
Ningbo Neisuoer, headquartered in Ningbo, Zhejiang Province, China, specializes in water-based coatings that are used in advanced coated film production. The company’s research and development team received a patent for polyvinylidene chloride, which is a coating polymer utilized in food packaging. The company expects the sales to reach nearly US$5.3 million in 2011.
When compared to oil-based coatings, water-based coatings are more eco-friendly. In addition, they provide better moisture-barrier properties to pack dry foods and other moisture-sensitive items.
Ningbo Neisuoer acquisition will enable Shiner to reduce raw material costs as well as expand its production capacity. Ningbo Neisuoer is known for providing superior coatings. The collaboration between both companies will provide significant benefits to Shiner’s customers. Shiner is looking for vertical integration opportunities to offer new and advanced packaging products to its global customers. The recent purchase plays a significant part in Shiner’s business strategy.