Tegrant Forms JV in Asia

Tegrant Corp. created a new joint venture to market its ThermoSafe products in the Asia Pacific region. ThermoSafe Brands Asia will operate as a JV between Tegrant and FEC Corp., a Hong Kong-based investment company focused on the Asian packaging market. FEC operates nine factories across China and Malaysia through its subsidiary Kingpak Packaging Group. The venture will manufacture and distribute temperature assurance products across the Southeast Asian region. ThermoSafe Brands Asia will be headquartered in Singapore.
   
“We are pleased to have formed our joint venture with such an esteemed company as FEC, whose expertise in packaging is well-known in Asia. Southeast Asia has been identified as a high growth priority for ThermoSafe Brands, and we have an immediate need to supply Temperature Assurance Products to current customers in the region,” said Ron Leach, president and chief executive officer of Tegrant Corp.
   
Colleen Bohn, president of ThermoSafe Brands, said, “I am excited about what this new venture means for ThermoSafe and its customers. We will now be able to produce common products for our customers in the U.S. and Asia and ensure that they are manufactured with the same quality standards and specifications. Additionally, we will serve our customers with a local sales and support team in Asia that has full access to our state-of-the-art design and testing capabilities.”