Thailand’s SCG Packaging Public Company Limited (SCGP), a subsidiary of the industrial giant SCG Group, has officially acquired 100% ownership of Duy Tân Plastics Manufacturing Corporation, one of Vietnam’s top rigid plastic packaging manufacturers.
The final 30% stake was purchased through SCGP Rigid Packaging Solutions Pte. Ltd. (SCGPRPS), a wholly owned subsidiary of SCGP, according to an official filing with the Stock Exchange of Thailand (SET) on June 9. The value of the latest transaction is VND 2,825 billion, bringing the total valuation of Duy Tân Plastics to over VND 9,400 billion.
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Previously, in February 2021, SCGP acquired a 70% stake in Duy Tân for VND 6,400 billion. With this most recent deal, SCGP now fully owns Duy Tân, marking a significant milestone in its long-term expansion strategy in Vietnam.
Strategic Investment in High-Quality, High-Margin Products
Duy Tân is recognized as a market leader in rigid plastic packaging, known for its premium-quality branded products and high-profit margins. SCGP emphasized that full ownership will enable the company to further integrate its packaging solutions, improve operational efficiency, and better serve the growing Vietnamese market.
Despite the high-profile nature of the deal, SCGP noted that the acquisition accounts for only 1.98% of its total consolidated assets as of March 31, 2025.
In 2024, Duy Tân Plastics recorded Revenue: VND 5,381 billion. Net Profit After Tax: VND 578 billion. Total Assets: VND 4,627 billion
Founder Trần Duy Hy has retained ownership of the recycled plastics segment, including two subsidiaries – Duy Tân Recycling Plastics and Plascene, along with 18 other affiliated companies.
SCG’s Growing Footprint in Vietnam
SCG has been operating in Vietnam since 1992, and has actively pursued an M&A-driven strategy to expand its local presence. Today, SCG operates 27 subsidiaries in Vietnam, employing over 16,000 staff and offering a diverse range of premium products and services.
Its notable investments include 55% stake in Binh Minh Plastics via The Nawaplastic Industries (Saraburi) Co., Ltd. Acquisition of 80% of Tin Thanh Plastic Packaging JSC (Batico) in 2015. 94.11% of Bien Hoa Packaging (Sovi) through SCG Solutions Pte. Ltd. in 2020. 70% of Starprint Vietnam in late 2023 for VND 676.8 billion (approx. USD 27.8 million). 100% of StarCement (VCM) – owner of Song Gianh Cement Plant – for USD 156 million in 2017
Vietnam – SCG’s Second Largest Market
In SCG’s Q1 2025 financial report, the group announced global revenue of THB 124.4 billion, a 0.1% year-over-year increase but down 5% from Q4 2024. Thailand remains SCG’s largest market, contributing THB 70.1 billion (56%), followed by Vietnam at 8%, equivalent to approximately THB 9.95 billion (over VND 6,800 billion). Other key markets include Indonesia (7%), China (4%), and Cambodia (2%).
SCG’s aggressive investment strategy highlights Vietnam’s growing significance as a core market in its regional expansion plans.
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Source: Vietnam Insider