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, China, Materials Suppliers, 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

PP prices rise 5 cents

August 28, 2014 3:59 pm ET

After a one-month break, volatility has returned to the North American polypropylene resin market, with prices increasing by an average of 5 cents...    More

Image

DuPont fined for 2010 chemicals release

August 28, 2014 1:37 pm ET

DuPont Co. has been fined almost $1.3 million for the release of several chemicals — including plastics feedstock phosgene — at its plant ...    More

Image

LyondellBasell to build feedstock plant on Gulf Coast

August 28, 2014 11:05 am ET

LyondellBasell Industries will build a world scale propylene oxide plant on the U.S. Gulf Coast with a capacity of 900,000 metric tons per year.    More

Image

Bayer seeing success in project to replace petroleum with C02

August 28, 2014 10:18 am ET

Bayer MaterialScience says its research into the potential of using carbon dioxide as a raw material already is paying off in studies showing that...    More

Image

Sony entering recycled PC market

August 27, 2014 11:08 am ET

Consumer electronics giant Sony Corp. is getting into a sideline of selling recycled resins.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events