Packaging company Anzpac has sent a letter to suppliers assuring them printing will continue at the Smithfield site under a new owner, after parent company TWPH announced on the Malaysian stock exchange that it was ceasing production.
In the letter, Steve Arduin, acting head of operations, tells suppliers that TWPH is in 'advanced stages of negotiation' to sell the business to a potential purchaser. "The new owner intends to continue printing production at the Smithfield site and continue to meet the existing supply requirements for the existing Anzpac customers without disruption. This change of ownership will have no impact on your supply arrangements," Arduin wrote.
TWPH had earlier made an announcement to Bursa Malaysia that Anzpac would cease all production at Smithfield and sell off most of its assets, making 69 employees redundant.
The Board of Directors of TWPH wishes to announce that Anzpac Services (Australia) Pty Limited (ABN 25000032164) (“Anzpac”), a subsidiary of TWPH, had on 15 June 2017 decided to cease its remaining printing business (“Proposed Cessation”) in line with the Group’s reorganisation of its production footprint which is part of normal routine operational function to improve the Group’s strategic positioning to service the customers and reduce operating cost over the longer term, the announcement read.
The Proposed Cessation will involve ceasing all its printing business activities, the disposal of assets except the freehold land and office/factory building (“Land and Building”), computer equipment and furniture fittings, and settlement of liabilities of Anzpac. A total of 69 employees will be made redundant by the Proposed Cessation.