Philippines-based corrugated packaging materials manufacturer Steniel Manufacturing divests its Steniel Mindanao Packaging subsidiary; company expects to clear its outstanding debts through sale
January 3, 2014
– Philippines-based supplier and manufacturer of corrugated boards and boxes Steniel Manufacturing Corp. has sold off its Steniel Mindanao Packaging Corp. subsidiary, Packaging Business Review reported on Jan. 3.
Through the sale of 9.25 million common shares, the company expects to clear its outstanding debts.
The primary source of this article is Packaging Business Review, London, on Jan. 3, 2014