Thailand Factory Opened

RNS Number : 7287W
Plastics Capital PLC
16 June 2008

 

For Immediate Release

16 June 2008

Plastics Capital Plc

(“Plastics Capital” or the “Company”)

BNL opens manufacturing site in Thailand

Plastics Capital PLC (AIM; PLA), a fast-growing acquisitive plastics products manufacturer focused on proprietary products for niche markets, today announces that one of its subsidiaries, BNL (UK) Limited (“BNL”), the UK-based plastic bearing designer and manufacturer, is opening a factory in Thailand to streamline its supply chain and increase capacity as its operations continue to expand.  

To accommodate future expansion and following significant growth over the past two years, BNL is establishing a purposebuilt factory near Rayong, one of Thailand‘s thriving industrial and manufacturing centres. The new factory will be handed over to BNL in June and production will commence in October this year.

The factory will predominantly benefit BNL’local customers by bringing production closer to their own manufacturing bases.  The site is also close to one of BNL’s major suppliers, creating efficiencies throughout the entire supply chain.

Initially taking on assembly of parts for some Asia-based customers, there will be further opportunities to transfer other assembly work and moulding activities to the factory.  A team of 50 assemblers will commence operations during August and September.  Additional staff will operate seven new Krauss Maffei moulding machines ranging from 35 – 160 tonnes, bringing BNL’s total machine count to 40.

Gavin Charlesworth, who joined BNL in May 2008, will oversee the Thailand operation as the Managing Director of BNL (Thailand) Limited.  Gavin has lived and worked in Thailand for 10 years and is experienced in setting up operations in ThailandMalaysia and China for international manufacturing giants such as Flextronics and Sanko Gosei.

Neil Partlett, Managing Directorcommenting on BNL’s expansion in Asia said:   

BNL’s sustained growth means we have to plan for new capacity and this, combined with increasing sales of our products into Malaysia, China and other countries in Asia encouraged us to establish a new factory in Thailand.

Faisal Rahmatallah, Executive Chairman added:   

 This is an exciting step for BNL as it proves that in addition to the significant growth in the business over the last two years, a new manufacturing facility in Thailand should open up new opportunities for further expansion in the future. 

For further information contact:

Plastics Capital

0207 326 8423

Faisal Rahmatallah / Nick Ball

BNL (UK)

01423 799208

Donna Loughnane

donna.l@bnl-bearings.com

Cenkos Securities 

020 7397 8924

Stephen Keys / Beth McKiernan

Buchanan Communications

0207 466 5000

Richard Darby / Susanna Gale / Christian Goodbody

Note to Editors

Plastics Capital Plc

Plastics Capital successfully floated on AIM on 3 December 2007 and undertook a share for share exchange to acquire Plastics Capital Trading Limited with its subsidiary undertakings on 6 December 2007. 

Plastics Capital is a consolidator of plastics products manufacturers focused on proprietary products for niche markets. The Group has factories in the UK, an assembly operation in Thailand and sales offices in the US and Japan. Approximately 70 per cent. of sales are exported to countries worldwide. Production is concentrated in the UK where significant engineering know-how and automation underpins the Group’s competitiveness. 

Further information can be found at www.plasticscapital.com

BNL (UK) Ltd

BNL (UK) Ltd specialises in the design and manufacture of innovative thermoplastic bearing assemblies and technical moulding solutions. Plastic bearings offer many advantages over the traditional steel bearing, including anti-static properties, low friction and corrosion and chemical resistance. They are lightweight with low inertia and have no requirement for lubrication. BNL’s dedicated in-house design team is able to promote added value through the integration of other features – such as axles, gears, fixing clips, mounting flanges and pulleys – to form fully integrated bearing assemblies that maximise functionality and deliver whole system cost reductions.

Further information can be found at www.bnl-bearings.com

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