MOSCOW (MRC) -- Italy’s RadiciGroup is investing more than EUR35m to strengthen its global engineering polymer business with new plants in Mexico and China, as well as a capacity expansion in Europe, said the company.
In China, work has begun on a new 25,000-square metre plant that will boost production capacity by 30,000 tonnes/year.
The company is strengthening its global presence with investments of over EUR 35 million (USD41.7 million) which include new plants in Mexico and China, and capacity expansions in Europe and North America. The company is a major producer of nylons 6 and 66 and high performance nylons such as 610, 612 and PPA copolymers, as well as a range of compounds based on PBT, PC/ABS, ABS, PC, TPEs, POM, PPS and polyolefins.
Production capacity has been increased by 20,000 m.t./yr (44.9 million lbs/yr) in North America, namely, at Radici Plastics USA, Wadsworth, Ohio, and Radici Plastics Mexico. In particular, a new site was inaugurated in Mexico, extending over an area of 20,000 square meters, which is needed to support current and future development. In China, work has begun on the construction of a new 25,000-square meter plant that will boost production capacity by 30,000 tons/yr (66.1 million/lbs). The total investment of almost EUR 20 million ($23.5 millon) (in Suxiang District Industrial Park, in the City of Suzhou, was made in light of expectations for strong growth in the High Performance Polymers business in the Asian region.
As MRC informed earlier, Radici Group is investing EUR15 million to purchase a nonwoven production line for the production of nonwovens used in protective face masks. The company made this decision due to a lack of material in Italy. The synthetic fiber maker will produce meltblown nonwoven yarns, saying current supply in Europe is insufficient to meet the increased demand caused by the coronavirus pandemic.
According to the ICIS-MRC Price Report, PP prices grew dynamically in the markets of Latin America, Europe and Turkey, and at the same time, export prices for Russian producers also grew. As a result, under the pressure of the export alternative and limited supply from a number of suppliers, PP prices began to rise in the Russian market as well.
Radici Group is a large Italian corporation with a network of production and sales sites located in Europe, North America, South America and Asia. RadiciGroup is one of the world's leading manufacturers of a wide range of chemical intermediates, polyamides, engineering plastics, synthetic fibers and nonwovens. The Group's headquarters are located in Bergamo (Italy), in particular in Gandino.
MRC