AptarGroup has acquired 49% equity interest in three related BTY companies: Suzhou Hsing Kwang (SZHK), Suqian Hsing Kwang (SQHK) and Suzhou BTY (BTY). The three entities manufacture high end decorative metal components, metal-plastic sub-assemblies and complete packaging solutions for the make-up industry.
BTY was funded in 2002 by Mr. Liang Cheng. The company develops packaging solutions for both local Chinese and multinational colour cosmetics brands. The three facilities employ 900 people and are located close to Aptar’s manufacturing facilities in Suzhou, in the Jiangsu Province in China.
“This strategic investment brings complementary and distinctive capabilities to Aptar including high speed stamping and anodization, metal and plastic decoration and differentiated lipstick masstige mechanism design and manufacturing. This investment positions Aptar well to capitalize on growth potential in the Asian colour cosmetics market, while further strengthening Aptar’s ability to serve customers focused on the colour cosmetics markets,” said the supplier of dispensing, drug delivery and active packaging solutions in a release.
This move is part of Aptar’s growth strategy in Asia. “This strategic equity investment better positions us in the high-growth Asian color cosmetics market,” said Stephan Tanda, Aptar President and CEO.