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BerryPlastics, the American packaging group, has signed a letter of intent with Southern Packaging Group to prepare for the establishment of a joint venture in China by the center for the R & D, utilization and implementation of basic common technologies and technical standards in the polymer surface materials industry. The joint venture is 80% owned by BerryPlastics, and the remaining 20% is owned by Peng Shunming, chairman of the board of directors of Southern Packaging Group. In addition, in another agreement, BerryPlastics has obtained 10% of the shares of Southern Packaging Group through the Singapore Stock Exchange. According to iraboots, President and CEO of BerryPlastics, settling in Nanfang packaging group and establishing a joint venture that can fully meet the temperature control indicators specified in the national standard gb229-2007 is an important step for the company to become a world leading plastic packaging supplier. This cooperation will provide better services and products for customers of both sides

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