Polyplex (Thailand) Public Co. Ltd. is investing $9 million on two metalized-film production lines, at its Thai facility and its subsidiary plant in Turkey.
A company spokesman said Polyplex will invest $6 million at its plant in Mabyangporn, just south of Bangkok. The new line will be able to produce about 19 million pounds of film annually and is scheduled to start in early 2008.
The Thailand plant already produces a little more than 12 million pounds of metalized film annually.
At the same time, the company is investing 3 million euros ($4.03 million) in a line for its Polyplex Europa Polyester Film Sanayi Ve Ticaret Anonim Sirketi plant in Ãorlu, Turkey.
The Turkish plant currently has a metalizing line with capacity of 11 million pounds per year.
Meanwhile, Polyplex has reported a decline in selling prices due to an adverse market environment as well as a sharp increase in cost of sales and other financial charges, resulting in a hefty 39 percent drop in profit to 342 million Thai baht ($11 million) for the fiscal year ended March 31.
However, Polyplex enjoyed strong sales from its subsidiaries in Turkey and the United States, which boosted total sales by 40 percent, to 4.81 billion baht ($158 million).
Polyplex Thailand, based in Bangkok, is a subsidiary of Polyplex Corp. Ltd. of Noida, India.