Film manufacturer Polyplex (Thailand) Public Co. Ltd. has put US$70 million (478.1 million yuan) worth of projects on hold, due to uncertain market conditions.
The company said US$36.7 million (250.2 million yuan) in projects remain under way, however.
Bangkok-based Polyplex has held up an expansion project for PET film, metalized film and PET chips, but the firm is planning a US$19.5 million (132.7 million yuan) investment in a new silicone coating line. The company said it will send that equipment to its plant in Thailand or Turkey. It already has a similar silicone coating line at its plant in India.
Polyplex also is investing US$17.2 million (117.5 million yuan) in a cast polypropylene project in Thailand. That project will have capacity to make 34.4 million pounds a year of plain and metalized PP film.
Polyplex also has invested close to US$1 million (6.83 million yuan) on setting up a China office.
Raunaq Singh Bajaj, a sales and marketing manager at Polyplex (Thailand), said the Shenzhen office employs two, but he expects the operation to expand quickly. The company plans to take advantage of a reduction in duties on polyester films imported from Thailand to China under the Association of Southeast Asian Nations and China Free Trade Agreement.
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