Beverage-packaging material manufacturer Taiwan Hon Chuan is set to invest NT$10bn ($333m) within ten years to expand manufacturing plants in Southeast Asia, in an attempt to tap the market.
According to the institutional investors estimations, the company's Southeast Asian annual revenue is expected to surge over 40% year on year to NT$2.2bn ($73.33m) in 2012, or up to 13% of the company's annual revenue, with the new plants being set up gradually, news.cens.com reported.
With the commencement of the new factory, the company's profits in 2012 are expected to be 20% higher compared to 2011 profits.
In 2011, the Taiwan-based company's sales in Southeast Asia reached NT$1.57bn ($52.33m) or 11% of the total.
Hon Chuan, which plans to establish two to three new plants yearly in Southeast Asia has eight plants across Thailand, Vietnam, Indonesia and Malaysia and further plans to set up plants in Myanmar, the Philippines, Pakistan, Cambodia and Laos.
