Fraser & Neave Holdings Bhd subsidiary Malaya Glass Products Sdn Bhd (MGP) has entered into a conditional agreement with Thai Asia Pacific Brewery Co Ltd (TAPB) to form a new company in Thailand, called Siam Malaya Glass (Thailand) Co Ltd (SMG).
MGP will have a 70% stake in SMG, which will manufacture glass bottles, while TAPB will have 20% and Siam Glass Industry Co Ltd (SGI) 10%.
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