Local plastic producer to set up shop in United States
An Phat Holdings, a plastic packaging producer in Vietnam, is taking steps to build an environmentally friendly plastic packaging plant in the United States in early 2020.
The corporation revealed its plan during a meeting with a delegation from the U.S. Embassy and Consulate in Vietnam at the headquarters of its thin-film packaging subsidiary, An Phat Plastic and Green Environment JSC, in the northern province of Hai Duong on January 31.
The future plant, called An Phat USA, will mainly produce biodegradable and polyethylene bags, and other plastic products which are environmentally friendly in the North American market.
The plant will be equipped with advanced and automatic technologies, including around 300 pieces of modern machinery, to maximize its capacity.
An Phat did not disclose its total investment. The construction of the plant is part of the corporation’s strategy to expand the market all over the world.
Eric Hsu, senior commercial officer at the U.S. Embassy and Consulate in Vietnam, spoke highly of An Phat’s efforts to establish a foothold in the international market, especially in the United States.
The corporation’s thin-film packaging products are widely available in over 100 countries and territories, including choosy markets such as Japan, the European Union and the United States. It has already set up 12 plants in Vietnam, which employ more than 2,500 laborers.
In 2017, the plastic producer earned revenue of more than VND4 trillion and a net profit of some VND263 billion. It has yet to release its 2018 business performance results.