China 'major growth engine' for global leaders of the packaging industry
Shanghai, a favorite destination for investment from home and abroad, is confident it can attract more quality investment with better policies and services.
Multinational food packaging and processing companies are demonstrating their commitment to the Chinese market by expanding their lines of business and offering more innovative solutions for clients and consumers.
SIG Combibloc, a Switzerland-headquartered systems and solutions provider for aseptic carton packaging, has announced its entry into the chilled fresh food and beverages market by completing the acquisition of Pactiv Evergreen Inc's Asia Pacific Fresh operations (Evergreen Asia).
The move marks another strong addition to the firm's presence in the Asia-Pacific region since its foray into the Chinese mainland market in 1985. It set up its office in Shanghai 25 years ago.
"China continues to be one of the major growth engines for our business," said Fan Lidong, president and general manager of Asia Pacific North at SIG Combibloc, adding that the promising market potential and business environment have inspired them to fulfill a long-term commitment here.
Increasing demand for fresh produce, especially milk, has presented new opportunities for industry peers with enhanced cold-chain and related facilities in APAC, and SIG will work with its partners and clients to meet market demands for safe and sustainable packaging, he said.
The acquired factories and production lines of Evergreen Asia, with one located in Shanghai and the other two in China's Taiwan and South Korea, will be run by SIG and Evergreen Asia teams, according to the company.
"Shanghai has for a long time been our business operation center, and we are hoping to invest more in the city in the future," Fan told Shanghai Daily.
He said close attention will be paid to the improvement and development of the Shanghai factory of Evergreen Asia, which took effective prevention and control measures during the city's recent COVID-19 resurgence to ensure the stable running of operations.
SIG produced 45 billion packs and generated 2.5 billion euros (US$2.56 billion) in revenues last year, with around 30 percent of sales contributed by Asia-Pacific, its 2021 financials showed.
Last year, the company saw continued growth momentum in China, with a record number of filling machines contracted or deployed by its biggest customers, the Chinese dairy producers Yili, Mengniu, and others.
SIG now has its Asia Pacific Tech Center and two manufacturing plants in the neighboring Suzhou City of Jiangsu Province.