German extrusion machinery giant comes to VN

Wednesday, Apr 22, 2015 16:18

The Reifenhäuser Group is the most highly specialized as well as the most diversified provider of plastics extrusion technologies and components. — Photo reifenhauser.com

HCM CITY (Biz Hub) — Germany's Reifenhäuser Group, the world's leading producer of extrusion machinery for film and nonwovens opened a representative office in Viet Nam on April 22.

Ulrich Reifenhäuser, managing director of the group, told Biz Hub that polymer demand in Viet Nam was a low 5 per cent (2013) compared to other countries in the region like Thailand (14 per cent), Japan (27 per cent), and South Korea (25 per cent).

"But we still see high potential in this market with Viet Nam's average growth rate of 6 per cent, higher than other countries, and the opening of a representative office is to tap the opportunities for growth."

Located in HCM City where 80-85 per cent of the country's plastics and plastics packaging businesses are concentrated, the office will provide services and technologies for packaging and technical films and nonwovens.

Speaking at the launch, Ho Duc Lam, chairman of the Viet Nam Plastics Association, said Vietnamese plastics businesses needed to invest in modern technologies and machinery to produce quality products to meet the high standards of foreign markets.

Though 2014 was a volatile year for the economy, Vietnamese plastics companies exported $2 billion worth of products. Packaging is one of the key export products of the industry. And the segment is growing at a rate of 7.8 per cent a year.

The industry also imported 3.45 million tonnes of raw materials for $6.32 billion, 9 per cent and 10.6 per cent higher than in 2013.—VNS


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