BANGKOK, THAILAND (Sept. 16, 12:15 p.m. ET) — Polyplex (Thailand) Public Co. Ltd. has US$202 million in investments under implementation in Thailand and the United States scheduled for completion over the next two financial years.
The investments include PET thin film line and PET resin line in the United States to be completed in fiscal year 2013-14. Polyplex said its board approved the relocation of a film line from Turkey.
This was “a strategic decision to further diversify our manufacturing base and capture the growth potential in the North American region by becoming a preferred on-shore supplier,” the company announced.
In Thailand, it is working to complete a silicone coating line in fiscal year 2012-13; and a PET thick film line and polypropylene blown film line in Thailand in 2013-14.
These investments will help the company generate higher returns for shareholders, the firm announced, adding that new applications like touch-screen panels would drive growth of thick PET film.
Bangkok-based Polyplex has projected between 8-10 percent annual growth in demand for its products.