RadiciGroup High Performance Polymers strengthens its global presence with investments of over EUR 35 million: new plants in Mexico and China, expansion in Europe and North America
Investments of over EUR 35 million in business growth, sustainability and innovation. The RadiciGroup High Performance Polymers Business Area is adding significantly to its global production capacity with new construction and installations in North America, Europe and China.
“The High Performance Polymers business is highly strategic to our Group,” said Maurizio Radici, vice president and COO of RadiciGroup. “The business area is a network of production and sales units located throughout Europe, North America, South America and Asia that can meet the needs of both local and global customers with a complete, innovative and sustainable product offering. This is the reason we have decided to strengthen our presence even further by setting up new and more technologically advanced manufacturing facilities, so as to increase our overall production capacity and efficiency level worldwide.”
Production capacity has been increased by 20,000 tons/year in North America, namely, at Radici Plastics USA and Radici Plastics Mexico. In particular, a new site was inaugurated in Mexico, extending over an area of 20,000 square metres, which is needed to support current and future development.
In China, work has begun on the construction of a new 25,000-square metre plant that will boost production capacity by 30,000 tons/year. The total investment of almost EUR 20 million 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.
RadiciGroup High Performance Polymers is also growing steadily in Europe: work is underway to expand production capacity by 15,000 tons/year at the German Radici Plastics GmbH site. This installation complements the enhancements made at the Italian Radici Novacips facility over the last two years. Europe remains one of the Group's core markets, especially for the automotive, electrical/electronics and consumer goods sectors.
Moreover, following the recent establishment of Radici InNova – the RadiciGroup consortium company that pools the research and innovation activities of the various divisions of the Group, in line with a sustainability strategy based on the circular economy – RadiciGroup High Performance Polymers is strengthening its Research and Development Centre, with the aim of studying innovative, increasingly more circularity-oriented materials and application solutions for markets and supply chains demanding lower environmental impact products.
“After considering current developments and future market trends, we decided to invest more than EUR 35 million and distribute the funds among various Group sites on different continents,” Mr. Radici concluded, “Our aim is to be proactive for all our customers – to be their strategic partner and develop innovative and sustainable solutions for the future by working together."