DETROIT (March 28, 12:40 p.m. ET) — Japanese engineering plastics compounder Polyplastics Co. Ltd. said March 28 it is setting up an office in Michigan to expand its sales to Japanese transplants in the United States and better target American companies expanding overseas.
The Detroit office, which is scheduled to open July 1, will let the company develop “more closely focused and finely-tuned sales development activities targeted mainly at Japanese automotive companies in the United States and U.S. corporations operating in Asia,” the company said in a statement.
“Japanese-affiliated customer companies are building global production networks as they strengthen their presence not only in Asia but also in Europe and North America,” Polyplastics said. “In Asia as well, the Big Three U.S. automakers and other U.S. corporations are gaining momentum and occupy a central position in sales expansion in Asia.”
The Tokyo-based company said it is investing $500,000 in the office.