More and more companies are slowly getting into the business of aluminium cans considering its infinite recycle values and growing demand. Malaysia's Kian Joo Can Factory Bhd has recently signed a Memorandum of Understanding (MoU) with Togo (HK) Industries Ltd (THKIL) in order to leverage upon Togo’s advanced manufacturing technology. They would collaborate to manufacture and distribute aluminium cans and bottles.
Kian Joo confirmed in a filing with Bursa Malaysia yesterday that its wholly-owned unit, Singapore-incorporated KJ TOGO Pte Ltd, which would be the name of the new joint-venture company used by both the firms would venture into the manufacture and distribution of aluminium cans and bottles.
“THKIL holds the licence to manufacture aluminium bottles by using advanced technology,” the filing says.
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Kian Joo said THKIL would be investing 30 per cent in the equity of the joint company KJ TOGO,and provide the technology to manufacture different types of aluminium cans and bottles. They would also share the distribution rights of the products.
Kian Joo said if the joint-venture materialised as expected, it would contribute positively to the future earnings of Kian Joo Group.
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