Bangkok--Dec 22--Master Mind Communications
One of the world’s largest Thin Polyester (PET) films producer has just gotten bigger. Polyplex Europa Polyester Film Sanayi ve Ticaret A.S. (PE), a wholly owned subsidiary of the SET listed Polyplex (Thailand) Plc (PTL) has recently commenced trial production from a new Thin Pet film production line with an installed capacity of 24,000 tons per annum as part of its first phase of investment in Turkey which also envisages a Metallizer and Pet resin plant during 2006. The start up of this line makes Polyplex group, the fourth largest thin PET film producer (excluding Magnetic media films) in the world, competing in the league of big name producers like Dupont-Teijin, Mitsubishi and Toray.
With an total investment cost of US$ 68 million including working capital, the first phase of the facility represents the single largest known investment by a Thai based company in Turkey, and is optimally located near Corlu, about 80km from the Istanbul on the European side of Turkey. This strategic location also allows PE the advantage of multi-modal shipments to the nearby regions in Europe which translates to lower transportation and delivery costs to customers.
The new plant, which was inaugurated on 30th November, 2005 by PTL’s Chairman, Mr. Manu Leopairote in the presence of Dr. Virabongsa Ramangkura and Mr. Praphad Phodhivorakhun, members of Audit Committee of PTL as also Mr. Sanjiv Saraf, Managing Director of PTL, will be selling it’s products including both plain and metallized PET films to Polyplex’s existing and new customers in Europe, CIS/Russia, Turkey, North Africa, Egypt, Israel and Middle Eastern countries.
“We see this new plant as a strategic investment that will allow us to offer a “near market, near customer” proposition that will not only reduce the time and cost of delivery but also improve after sales service support and coordination with our European customers, both being key competitive factors to succeed as a major player in this industry” said Mr. Sanjiv Saraf, Managing Director of PTL.
To further add to this footprint of world class manufacturing facilities located in Europe and Asia, PE plans to commission a Metallizer in the first quarter of 2006 to provide higher value-added products to customers which should have a positive contribution to the bottom line. In addition, PE will also be replicating the successful PTL business model of backward integration by building a PET resin facility to alleviate dependence on external suppliers and reduce input cost by the fourth quarter of 2006. PTL’s board has also recently decided, in principle, to invest in a thick PET film production line in Turkey by early 2007 to further strengthen its position in the PET film industry and broaden its product portfolio.
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