Crown Asia Chemicals has reportedly invested in new equipment to increase plastic compounding capacity in Philippines by around 10%.
The company equipped its facility in Guiguinto, Bulacan with a new polyvinyl chloride (PVC) compounding line from Germany, BusinessWorld Online reported.
The machinery would be capable of producing PVC compounds for various applications including rigid compounds that are used in bottles, integrated circuit tube packaging, shrink films, and labels, media sources reported citing the company.
With this investment, Crown Asia's annual compounding capacity is anticipated to increase by close to 1500 metric tons (MT).
As of January last year, the Guiguinto plant's annual operating capacity for compounds and pipes was around 15,000MT and 8,500MT respectively.
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 purchase of the new equipment was funded by public offering proceeds from the company's initial public offering in April last year.
Crown Asia started PVC compounding production in 1990 with an annual capacity of around 1500MT, according to The Philippine Star.
The company's PVC compounds can also be used in wires and cables, IC tubings, besides bottles and films.
