Polykemi Group is investing almost 10 million Euro in its own plant in the United States. That is the greatest single investment in the Group’s history. The goal is to launch production of plastic compounds as early as 2022.
“We are truly delighted by this deal. It increases our presence and gives us many new opportunities on the American market,” says Johan Hugoson, CEO of Polykemi Inc.
The American company Polykemi Inc is a wholly-owned subsidiary of the Swedish family business Polykemi AB and has, since its establishment in 2013, worked towards launching its own manufacturing of high-quality plastic compounds on the US market. The deal has now been completed.
“The whole time, our goal has been to start up production in the US, and we have now reached that milestone. The new plant is geographically close to our existing customers, which gives us a clearer presence and even stronger customer relationships,” Mr. Hugoson says.
Production facilities on three continents
The investment in the plant in Gastonia, NC, is the largest single investment in the company’s history, and it lays the ground for Polykemi Inc’s further growth in North America. The plant is about 50 000 square feet and is expandable up to 100 000 square feet. It will initially be equipped with two production lines, and the expected launch of manufacturing is during Q2 2022.
“The new plant in the United States means we have our own manufacturing facilities on three continents, which also means we have clear quality control. We can guarantee the same high quality in both new and recycled raw materials, as well as the same color on all materials that our plants ship. That means we can cooperate closely with our customers, whose production is split across continents,” Mr. Hugoson says.
An investment in the future
Polykemi Inc will produce precisely the same material in the US as the Group does in Europe and Asia. Furthermore, shipments to American customers will come directly from the plant in North Carolina, saving time, costs and the environment.
“This is an investment in the future and lays the ground for Polykemi Group’s future growth and its path to also becoming a distinct player on the American plastic compounds market,” Mr. Hugoson says.