Shanghai, China, 22 March 2019 – Toppan Leefung Packaging (Shanghai) [TLP] officially acquired Shanghai Jiuzheng Medical Packaging Material Co., Ltd. (Jiuzheng), paving Toppan Leefung Group’s entry into the medical packaging business.

The exploration of this acquisition began in October 2018 and culminated in a Letter of Intent which was signed on 15 November 2018. After three months of due diligence and negotiations thereafter, the deal was finally sealed on 22 March 2019.

Jiuzheng specializes in the production and sales of medical packaging products such as aluminum lids, aluminum-plastic composite lids and anti-theft aluminum lids of bottles for antibiotics, infusion and oral solutions as well as sterilized packaging for medical use. Customers of Jiuzheng include major pharmaceutical companies, biotech companies and joint venture pharmaceutical manufacturers. With its products currently selling to more than 20 provinces and cities all over China, Jiuzheng enjoys a good reputation in the medical packaging industry.

Following this successful acquisition, TLP plans to further enhance Jiuzheng´s quality products and resources with Toppan Inc´s advance technologies and improve and consolidate Jiuzheng´s existing businesses with Toppan Leefung´s efficient management. At the same time, TLP plans to expand its plants in Songjiang to accommodate Jiuzheng in the near future so as to optimize its management and other resources with a view to expanding the Group´s soft packaging business.