Growing Sze Pak looks to transition to medical

By Nina Ying Sun
Assistant Managing Editor

Published: April 17, 2012 6:00 am ET

Related to this story

Topics Medical, Consumer Products, Injection Molding, NPE 2012

ORLANDO, FLA. (April 17, 11 a.m. ET) — Sze Pak Industrial (Hong Kong) Ltd., a contract manufacturer that exports 80 percent of its products, reported growing sales in the first quarter and said it is targeting the medical market. The company has also been investing in automation at its factory in Wuxi in response to the rising labor costs on the mainland.

The Hong Kong-based company said it brought on two new customers in the first quarter, Whirlpool and Canon, said Ray Yip, chief marketing officer for Europe and Americas.

The appliances business has shown healthy growth in the first quarter, up 50 percent compared with last year, he said, thanks in part to the recovery of the U.S. economy. One of the high-growth products is a mini toner-cartridge for printers, part of the sustainability trend in the industry.

However, Szepak also reported a 40 percent decline in notebook battery business. “Tablets have gained so much popularity that notebooks are losing a lot of market share.”

The first-time NPE exhibitor said it’s trying to grow medical business in the U.S. “We are capable of high-precision molding in dust-free conditions,” Yip said, “which makes us a good candidate to transition into medical.”

The company has designed and developed an insulin syringe on its own. “This is our first self-developed product. We hope to open the door to medical manufacturing through this,” Yip said.

With labor costs creeping up in China in recent years, the company invested $2 million in 2011 to set up a fully automated workshop for electronic parts at the Wuxi factory, where it has more than 150 injection molding machines.

The Wuxi factory has about 425,000 square feet of manufacturing space. The headcount has dropped from 1,200 in 2010 to 1,100 in 2011 and will slide to 1,000 this year.

Sales dropped from $55.3 million in 2010 to $39.5 million in 2011, but are forecasted to climb back up to $55.3 million in 2012.


Comments

Growing Sze Pak looks to transition to medical

By Nina Ying Sun
Assistant Managing Editor

Published: April 17, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Molder goes to auction block

October 17, 2014 12:17 pm ET

An Illinois custom injection molding operation will be auctioned off after its owner decided to close the business.    More

Image

Plastikon expanding in Kentucky

October 17, 2014 11:24 am ET

Automotive supplier Plastikon Industries Inc. plans to more than double the size of its production facility in Leitchfield, Ky.    More

Image

Taiwan's machinery makers look to speed development of all-electrics

October 15, 2014 11:25 am ET

Taiwan's large plastics machinery industry faces a challenge — less than 10 percent of its equipment uses the more eco-friendly all-electric...    More

Image

French molder betting on growth in the auto industry, Detroit

October 14, 2014 6:00 am ET

Precision French molder AdduXi Group is opening its first factory outside of its home country — in a Detroit suburb — and the top local...    More

Image

Plastics firms ramp up production, donations in Ebola fight

October 10, 2014 3:57 pm ET

As health care workers around the world battle the spread of Ebola, plastics processors are doing their part — ramping up production and even gi...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events