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Prime Polymer Co Ltd, the largest polyolefin producer in Japan, has established an operation in Hong Kong to tap the growing demand in the Mainland of China and Asia.
As part of the company's worldwide development plan, it has set up a wholly owned sales company in Hong Kong, Prime Polymer Asia Co Ltd, targeting sales and conducting marking activities in China and the rest of the region.
Managing Director of Prime Polymer Asia, Mr Takashi Hayashi, said, "We chose to open in Hong Kong because this is the best place in many aspects, such as the excellent accessibility to the Mainland China and other Asian countries. The information we gather in Hong Kong is vital to our business. Also the high quality workforce in Hong Kong played an important role in our decision to set up a base here."
He also introduced the company's expansion plans. "Prime Polymer focuses in Asia through Prime Polymer Asia. In addition to commodity business, we think now is the time to start the development of differentiated markets utilising technologies and experiences in Japan," said Mr Takashi Hayashi.
The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Mark Michelson, welcomed the company to Hong Kong. "I am delighted to see another leading chemical company choose Hong Kong to set up its regional base. I expect that the rapid development of the differentiated market in the region will provide a tremendous opportunity for this new venture. We at Invest Hong Kong wish Prime Polymer every success here and in the rest of Asia," said Mr Michelson.
Headquartered in Tokyo, Prime Polymer Co Ltd was established in 2005 as part of a comprehensive tie-up linking Japanese chemical company Mitsui Chemicals Inc and Japanese Oil refinery Idemitsu Kosan Co Ltd to further expand the polyolefin business globally. Prime Polymer has five production centres in Japan and polypropylene composites supply systems in China, Southeast Asia, Europe and North America. The capacity is 2.6 million MT in total. The company also operates three laboratories which provide applicable, up-to-the-minute solutions designed to satisfy customer needs. For more information, please visit the website at www.primepolymer.co.jp.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating investment into the city by providing the support needed to establish or expand a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Wednesday, December 20, 2006
Issued at HKT 14:46
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