In 2000, CVC Funds completed the acquisition of Steniel Manufacturing Corporation (‘SMC’). SMC is a leading manufacturer of industrial packaging materials for a wide range of different products.
The company is based in Cavite, Philippines and employs a total of around 130 members of staff. The group’s principal activity is manufacturing packaging materials, largely corrugated cardboard and boxes. The finished products are mainly used for packaging consumer goods, fresh fruits, canned sardines, furniture and electronic goods.
SMC has manufacturing facilities located in Cavite, Cebu and Davao, each fully equipped with corrugators and converting machines. The company is now listed on the Philippine Stock Exchange.