Pago acquires a participation in Salee Printing

Long-term consolidation of strategic cooperation by means of a financial participation

Grabs/Bangkok, 2nd July 2009

The Pago Group, a leading international manufacturer of self-adhesive labels and labeling systems in Europe, is to acquire a minority shareholding interest in Salee Printing Co., Ltd, a prominent producer of self-adhesive labels based in Thailand. Cooperation already began in the spring and is now to be further strengthened and placed on a long-term foundation be a financial participation acquired be the Pago Group. The Thai label manufacturer will in the future be present on the market under the new name of Pago Salee Printing Co., Ltd. The two partners have set themselves the goal or delivering high quality decorative labels jointly to multinational companies and of providing the logistic concepts required for that purpose on a transcontinental basis.

 

The two companies announced today the conclusion of a binding contract on the basis of which the Pago Group will take a 30% participation in the equity capital of Salee Printing. Salee Printing is a subsidiary company of the Salee Industry Public Company Limited with registered office in Thailand which is listed on the Market for Alternative Investments Thailand. In 2008 it reported sales worth around 9 million Euros. The two companies expect this transaction to be completed by the end of August 2009.

Fritz Beglinger, Pago Group CEO, commented on the agreement: “The close cooperation with Salee Printing will strengthen our position with multinational customers in Asia and bring us significantly closer to the goal of providing a transcontinental service to international customers.” Suchart Chivapornthip, Chairman and CEO of Salee Industry, confirms this: “With Pago we have been able to acquire a partner who is making a long-term investment in cooperation. Our customers will now benefits from the advantages of a global network with a strong label manufacturer.”

Prestigious multinational companies have placed their confidence for many years in the products and services of Pago and Salee Printing. Many multinational groups procure high quality self-adhesive labels for product decoration from Pago in Europe and from Salee Printing in Southeast Asia. Cooperation between the two companies in this field will be deepened and widened in the future.

About Pago
The Pago Group is a global leader in the supply of systems for labels and labeling technology. Pago covers the full range of labeling from self-adhesive labels via sleeves to labeling machines and labeling software. Its field of activity comprises all branches with the emphasis on hair and body care, pharmaceuticals and chemicals, the beverage and food industries and logistics. With its headquarters in Switzerland, Pago was founded in 1896 and has developed from a small enterprise to become an international group with over 1,200 employees. Pago operates production plants and branch establishment in Switzerland, Germany, Austria, France, England, Romania and Italy.

About Salee Printing
Based in Bangkok, Thailand, Salee Printing is one of the leading manufacturers of self-adhesive labels in Southeast Asia. The company serves all branches with the emphasis on hair and body care, pharmaceuticals and chemicals as well as the beverages and food industry. Salee Printing was founded in 1996 and employs more than 110 persons. It is a subsidiary of the Salee Industry Public Company Limited, which is listed on the Market for Alternative Investment in Thailand.

 

Pago International AG  Emanuel Schäpper, Marketing Director, Werdenstrasse 85, Postfach 145, CH-9472 Grabs, Switzerland  Tel.  +41 (0)81 772 35 11 Fax  +41 (0)81 772 31 11  E-mail : emanuel.schaepper@pago.com Web : www.pago.com
Salee Printing Co. Ltd. Savate Naratippakorn, Managing Director, 18 Bldg. 8, Moo 10, Tumbol Klong 4 Amphur Klong Laung, Pathumthani 12120, Thailand Tel.  +66 (0)2 529 60 00 Fax  +66 (0)2 529 60 10 E-mail : pagosaleeinfo@pagosalee.com Web : www.pagosalee.com