Chinese packaging firm adds Husky systems

By Nina Ying Sun
Assistant Managing Editor

Published: May 23, 2014 11:00 am ET
Updated: May 23, 2014 11:05 am ET

Related to this story

Topics Packaging, Injection Molding, Machinery, Molds/Tooling
Companies & Associations Husky Injection Molding Systems Ltd.

A leading cosmetic packaging manufacturer in China announced May 21 an investment on Husky's injection molding systems for food packaging.

Publicly listed Shenzhen Beauty Star Co. Ltd. said its wholly owned subsidiary in Guangzhou has ordered two systems from Husky Injection Molding Systems Ltd. for a total of $2.16 million.

Each system includes molds, a Husky Hylectric injection molding press, a Husky hotrunner temperature controller, and a set of Husky auxiliary equipment, including a feeder, masterbatch mixer, chiller, robot, cooling system, cap closing equipment and conveyer.

These highly automated systems can produce 10,000 sets of products per hour, reducing cycle time and production cost, the company said.

The investment lays the foundation for the company to further increase its market share in high-end plastic food packaging.

The systems are based on customers’ demands and orders, with the molds specified for the customers. If the customers' market conditions change, and the ordered volume falls short of the forecast, the customer will pay for the molds, the company said. "We can develop new products to make sure the capacity is utilized."

The company spent $1.2 million on Husky machinery in 2013, representing about 55 percent of the total spending of the same category.

Beauty Star reported 268 million yuan ($42.9 million) of sales in the first quarter, 5 percent higher than the same period of the previous year. However, net profit [excluding non-recurring profit or loss] tanked 92 percent to 1.2 million yuan.

Main reasons for the profit drop include falling orders and structural adjustments of orders; continued labor cost hikes; increased equipment depreciation and electricity spending of new equipment, among others.

These factors will continue an impact through the first half of 2014, the company said. It forecasts a 30-80 percent decline of net profit before deduction of non-recurring profit or loss for the first 6 months of the year.

The company's 2013 annual sales came in at 1.1 billion yuan and net profit reached 53.5 million yuan, not including non-recurring profit or loss.


Comments

Chinese packaging firm adds Husky systems

By Nina Ying Sun
Assistant Managing Editor

Published: May 23, 2014 11:00 am ET
Updated: May 23, 2014 11:05 am ET

Post Your Comments


Back to story


More stories

Image

Bill Kent named Thermoformer of the Year

September 18, 2014 12:11 pm ET

Bill Kent flew 6 million miles in a 50-year career at Brown Machine LLC — where he began assembling thermoforming machinery on the factory...    More

Image

Nolato Contour beefs up white room molding capabilities

September 18, 2014 11:56 am ET

Nolato Medical has extended its controlled environment options to include a white room at its Baldwin, Wis., Nolato Contour plant.    More

Badger buys competitor Joseph Homa

September 17, 2014 4:04 pm ET

Badger Plug Co. has extended its protective plugs customer base by acquiring and closing a rival, Joseph Homa Consultants Inc. of Montreal.    More

Image

Cascade Engineering founder Keller to step down as CEO

September 16, 2014 8:33 pm ET

Cascade Engineering Inc. is undergoing a transition as President Mark Miller will also add the role of CEO, replacing founder Fred Keller, who has...    More

Image

Canadian, Mexican injection molders form auto supply joint venture

September 16, 2014 2:26 pm ET

A new automotive parts manufacturer will open in Querétaro, Mexico, through a joint venture between Canadian automotive supplier Papp Plastics and Dis...    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

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

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

Upcoming Plastics News Events

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

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

More Events