Crown Asia Chemicals has installed new polyvinyl chloride (PVC) compounding line at its facility in Guiguinto, Bulacan, the Philippines, to expand the customer base for its products.
The company's new investment is expected to increase plastic compounding capacity in the country by nearly 10%, from the existing 15,000 metric tonnes per year (MTPY) to 16,500MTPY.
The line has been procured from Germany for PHP12.5m, reports BusinessWorld Online.
This new installation is equipped with shear-gap technology and can be used for manufacturing PVC compounds for multiple applications, including rigid compounds used in bottles, integrated circuit tube packaging, shrink films and labels.
Crown Asia president and general manager Eugene Lee Villanueva was quoted by media sources as saying: "By enhancing our production capacity in these new product applications, we are looking at growing our local customer base, which is expected to translate into a notable boost in our top line sales revenues."
The firm arranged financing for the new compounding line from the proceeds of its initial public offering last April.
Crown Asia started production for PVC compounds in 1990 when it had an annual capacity for around 1,500t, reports The Philippine Star.
PVC compounds produced by the company are used in wires and cables, as well as IC tube packaging bottles and shrink films.