May 04-Scandinavian thermoplastic compounds producer Polykemi says it will this year invest SEK42m (?.3m) in expanding in Sweden and China.
The company is investing SEK32m (?.3m) in Sweden and SEK10m (?m) in China, where part of the money will be spent on buying the previously leased Polykemi China buildings.
The investments decided exceed the normal level by about 100%, spokesperson Lars Hugosson said in a statement. Our efforts and hard work to get big new orders has been successful but we have also been fortunate that quite substantial projects have also started up earlier than anticipated.
In Europe, the investments will mainly be spent on two new production lines for thermoplastic compounds, the company said, adding: We are able to make these investments because we have come through the crisis relatively unscathed, and as we are family owned and independent we are not part of any large group.
The company is investing SEK32m (?.3m) in Sweden and SEK10m (?m) in China, where part of the money will be spent on buying the previously leased Polykemi China buildings.
The investments decided exceed the normal level by about 100%, spokesperson Lars Hugosson said in a statement. Our efforts and hard work to get big new orders has been successful but we have also been fortunate that quite substantial projects have also started up earlier than anticipated.
In Europe, the investments will mainly be spent on two new production lines for thermoplastic compounds, the company said, adding: We are able to make these investments because we have come through the crisis relatively unscathed, and as we are family owned and independent we are not part of any large group.
