Starflex and Thai Union have agreed to form a new collaborative enterprise.

BANGKOK – On September 30, 2021, Thai Union Group PCL, also known as Thai Union, announced the initiation of a joint venture between its subsidiary, Thai Union Graphic Co., Ltd., and Starflex PCL, a leading company in the production and distribution of high-quality flexible packaging. This collaboration aims to establish a new entity with a starting capital of 250 million Thai Baht, where Starflex and Thai Union Graphic will own 51% and 49% of the shares, respectively. Printhorn Apithanasriwong, the President of Starflex, expressed enthusiasm about the venture, highlighting the construction of a new factory dedicated to producing flexible packaging primarily for the food industry. Leveraging over 18 years of experience and a longstanding partnership with Thai Union, Apithanasriwong is confident in the venture's ability to support Thai Union's sustainability and packaging objectives. He emphasized the importance of innovation and technology in enhancing competitiveness and providing value-added services. Thiraphong Chansiri, President & CEO of Thai Union, reiterated the company's dedication to sustainability, a fundamental aspect of its global operations. Chansiri pointed out that innovating packaging design and production to minimize environmental impact aligns with the company's sustainability challenges and business advantages. Through its SeaChange® global sustainability initiative, Thai Union has pledged to ensure that all its branded packaging will be reusable, recyclable, or compostable by 2025. This joint venture with Starflex is a step towards achieving this commitment, and Chansiri looks forward to a fruitful collaboration. About Thai Union Group: For over four decades, Thai Union Group PCL has established itself as a global leader in the seafood industry, offering a wide range of high-quality, healthy, and innovative seafood products worldwide. With an annual revenue surpassing 132.4 billion Thai Baht (approximately US$ 4.2 billion) and employing over 44,000 individuals globally, Thai Union is recognized as a top producer of shelf-stable tuna products and a pioneer in sustainable and innovative seafood offerings. The company's portfolio includes internationally renowned brands such as Chicken of the Sea, John West, and King Oscar, among others, as well as leading Thai brands and specialty ingredients and supplement brands. Committed to responsible and innovative practices, Thai Union is a member of the United Nations Global Compact and a founding member of the International Seafood Sustainability Foundation (ISSF). The company's sustainability efforts, encapsulated in its SeaChange® strategy, have earned it recognition on the Dow Jones Sustainability Indices for seven consecutive years and a high ranking on the Food Products Industry Index. Additionally, Thai Union has been included in the FTSE4Good Emerging Index for five consecutive years.