MEXICO CITY — Japanese engineering plastics manufacturer Polyplastics Co. Ltd. has opened a second sales subsidiary in North America, this time in the Mexican capital.
Polyplastics Marketing Mexico SA de CV commenced business on Oct. 1, 14 months after PPC launched Polyplastics USA Inc. in Farmington Hills, Mich.
“The new company was created to expand the reach of Polyplastics' sales in the North American market, focusing on the local sales and development needs of existing and new Japanese-affiliated customer companies in this quickly developing region,” PPC said in a statement posted on its website October 15.
The Tokyo-based company also said Polyplastics USA is expanding its warehouse network, local inventory and order fulfillment functions in North America to “quickly and efficiently process orders for our existing and new customers in the region.”
PPC was founded in 1962 as a joint venture between Japan's Daicel Chemical Industries Ltd and the Celanese Corp. Daicel's stake is 55 percent while Ticona, a Celanese subsidiary, owns 45 percent.
PPC also has sales operations across Asia and reported net income of $47.6 million dollars in its 2012 (January-December) financial year.