Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Hengan Acquires Stake in Malaysian Hygiene Company - Nonwovens Industry

What are you searching for?

Sign in
Nonwovens News

Hengan Acquires Stake in Malaysian Hygiene Company

Wang-Zheng makes branded diapers, feminine hygiene products

Author Image

By: Karen McIntyre

Editor, Nonwovens Industry

China’s largest producer of sanitary napkins, baby diapers and tissue papers, Hengan International Group, has reportedly acquired a 50.4% stake in Wang-Zheng  and has made an offer to takeover the remaining shares in the Malaysian hygiene company.

The offer was made at a 3.64% premium to Wang-Zheng’s closing share price last Friday. Wang-Zheng shares have since risen to close at RM1.14 yesterday.

Wang-Zheng manufactures and distributes processed paper and disposable products like diapers and sanitary napkins, sold under its own brands, including Drypro, Dryplus, Carina and Carefeel. Wang-Zheng is also an original equipment manufacturer for various local and foreign brands.

In a filing with Bursa Malaysia, Wang-Zheng said Hengan launched the takeover after its indirect wholly-owned subsidiary, Hengan Investments Co Ltd, inked agreements with four parties—Wang-Zheng Resources Sdn Bhd, Macro-Link Sdn Bhd, Charost Ltd and Zhong Xin Ltd—to buy their collective 80 million shares (representing 50.4% of shares) in Wang-Zheng for a total of RM91.2 million ($14 million).


 

Add us as a preferred source on Google

Get the latest Nonwovens Industry news, insights and analysis in your Google Search and AI experiences.

Add Nonwovens Industry as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Nonwovens Industry Newsletters

Topics