Page 42 - Plastics News July 2017

BUSINESS NEWS

Chinese press maker Bole to invest $100 million in the India

venture

he Chinese manufacturer of Bole-brand injection has prompted Chinese suppliers to set up manufacturing
Tmolding machines has opened a manufacturing plant ventures in India. Bole will manufacture hydraulic presses
in Ahmedabad and plans to invest $100 million in the India in India that will have nearly 80 percent locally made
venture over the next four years. Zhejiang, China-based content. Mehta said the company evaluated investing in
Ningbo Shuangma Machinery Industry Co. Ltd. opened a India for seven years before taking the plunge. Bole also
leased factory in June under a new independent subsidiary, recently appointed Noidabased Advance Plastic Machinery
as its sales agent in northern India.

South Korean chemicals firm
Songwon opens pilot plant in

Gujarat

outh Korean specialty chemicals company Songwon
SIndustrial Co Ltd has launched its new pilot plant in
Panoli (Gujarat), thereby strengthening the organisation’s
overall specialty chemicals development capability.Built
on Songwon’s Indian site with all the necessary main unit
operations, the new plant is equipped with the most up-
Shuangma Machinery India Pvt. Ltd. "We have already to-date technologies and materials for producing a wide
commenced production of injection molding presses range of chemicals for a broad spectrum of applications
ranging from 70 to 900 tons at the Gujarat plant," said - from one kilo up to several hundred kilo samples.
Ken Cheng, general manager of the subsidiary. Bole plans To reinforce the organisation’s position in existing
to build its own factory in Gujarat in the next couple of areas of business and enhance its ability to enter new
years. "Initially, our target is to manufacture 20 presses areas, the new pilot
each month," Cheng said. Bole has ambitious plans to plant will be supported
invest $100 million in the India venture over the next by the Songwon’s
four years. "This is considered as one of the first big- strong local R&D team
ticket foreign direct investments in the plastic processing in Panoli, as well as
industry from China, and our target is to take production to its central technology
up to 1,000 presses annually," said Devang Mehta, deputy innovation center
general manager. located in Maeam,
Korea. “Technology and product innovation is at the
Bole's Ningbo plant produces 3,000 injection molding core of Songwon’s business strategy. With our high-
presses yearly. It also has a subsidiary in Malaysia that quality manufacturing expertise and strong R&D, we
makes about 50 presses per month. Bole serves the have already earned a solid reputation in the industry.
United States and Canada through Scottsdale, Ariz.-based This new facility will play an important role in ensuring
Calypso Machinery LLC. The company makes presses thatSongwon can continue developing new industrial
with clamping forces ranging from 70 to 4,000 tons. technologies to meet evolving market needs and make
India's growing plastics processing sector is a significant it possible for us to reliably supply customers with
importer of injection presses, but Chinese-made hydraulic innovative products for testing and approval,” said
machines are subject to a hefty anti-dumping duty. That Giacomo Sasselli, leader operations, Songwon.

Plastics News | July 2017 42