Thai Union Group has entered into a joint venture with packaging firm Starflex to create a new THB 250 million (€6.3 million/$7.4 million) company for the manufacturing and distribution of flexible packaging and other related business, including development of new packaging and products.

The Thai seafood giant will subscribe to 1.2 million common shares and 50,000 preferred shares in the new company at a value of THB 100 (€2.54/$2.95) per share. The holding will give Thai Union 50 percent of the company's stocks at an investment cost of THB 125 million (€3.2