HONG KONG (Aug. 29, 10:30 a.m. ET) — Broad-based Chinese plastics firm Cosmos Machinery Enterprises Ltd. has closed an appliance and electronics molding factory in Wuxi, China, as tougher economic conditions sharply cut sales and pushed the company into a small loss in the first half of the year.
North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.
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