Israel's Nilit targeting growth in China

Rebecca Kanthor
PLASTICS NEWS CORRESPONDENT

Published: May 15, 2014 9:41 am ET
Updated: May 15, 2014 9:43 am ET

Related to this story

Topics Materials, Materials Suppliers, China, CHINAPLAS

Israeli engineering compounds manufacturer Nilit Ltd. is targeting the local Chinese market, said sales director Bill Lu.

The company, which has plants in Israel, Italy, Germany and the United States, opened a plant in Suzhou in 2009.  Lu said that since its establishment, it has averaged sales growth of 40 percent annually.

Currently the plant has two extruders and makes 12,000 tons of nylon compounds a year for electric and enclosure and automotive applications.

The company has plans for expansion, but Lu could not be specific about a timeline. He did say that the company hope to expand to 30,000 tons a year, triple the number of extruder lines, and invest in an R&D center.

“It depends on the market and sales,” he said. He said that local unit is targeting sales growth of 30 percent this year, and that the first quarter was in line with their budget and target.

Local competition is also driving the market, he said. “We see a more aggressive market situation. The price is getting down and there is more competition from local companies.

 “We have to focus on increasing local customers,” he said. “We’re pretty small in terms of market share in China,” he added.

As for Nilit’s global expansion plans, Lu hinted that there is some thought about expanding into South America, but again gave no further details.


Comments

Israel's Nilit targeting growth in China

Rebecca Kanthor
PLASTICS NEWS CORRESPONDENT

Published: May 15, 2014 9:41 am ET
Updated: May 15, 2014 9:43 am ET

Post Your Comments


Back to story


More stories

Image

Americhem beats weather woes at start of 2014 for good fiscal year

November 26, 2014 9:45 am ET

Gains from the automotive and construction markets provided a strong fiscal 2014 for Americhem Inc.    More

Image

PE prices drop for first time in two years, PP down 5 cents

November 26, 2014 10:22 am ET

North American polyethylene buyers might want to circle November 2014 in red on their calendars — since PE prices this month have fallen for...    More

Image

Compounding products and services

November 24, 2014 9:47 am ET

   More

Image

Dow reaches agreement with Third Point

November 21, 2014 9:11 am ET

Dow Chemical Co. has reached an agreement with the investment firm that has been trying to force the company to sell off some assets.More

Image

Ineos making its UK shale play

November 21, 2014 9:29 am ET

Chemical giant Ineos Group AG is planning to be the biggest player in the United Kingdom's shale gas industry.    More

Market Reports

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

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 billion 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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events