Australia-based Cardia Bioplastics has established a new film and bag manufacturing facility in São Paulo, Brazil.
Go deeper with GlobalData
The new facility, which has been leased, is slated to commence operations in September 2014.
The company has taken vendor finance for a one-year period to fund the acquisition of production machinery, which is worth about A$750,000.
Cardia’s new facility has an annual capacity to produce 500 million retail carry bags, which is about four times more than that of its manufacturing facility in Nanjing, China.
Cardia holds supply contracts with Brazilian retailers, such as Ricoy Supermercados and Drogaria Araujo.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSee Also:
Cardia Bioplastics Latin America managing director João Paulo Mignot said: "With our own production coming on stream, we are now poised to deliver the increasing orders that we have been receiving, whilst further growing the business."
Cardia Bioplastics chairman Richard Tegoni said: "This represents a key milestone in the implementation of our business strategy to establish a finished products division with its own dedicated resources and manufacturing capability in key markets.
"The vertical integration from Cardia Biohybrid resins to Cardia Biohybrid films and bags ensures product quality, control of supply, improved margins and enhanced cost structures that underpin Cardia’s global growth strategy".
Image: Cardia Bioplastics has set up a new manufacturing facility in São Paulo, Brazil. Photo: courtesy of Cardia Bioplastics.
