Compostable products ready to exportPosted on
On 19 June, under the witness of Mr. Vuong Dinh Hue, Deputy Prime Minister, a Memorandum of Understanding (MoU) on Strategic Cooperation in Research and Development of Korea and Vietnam-based Compostable Materials was signed by An Phat Holdings and TLC (Korea).
Accordingly, 51% capital was contributed to TLC so that the future strategic targets may be fulfilled to produce the compostable materials and products to serve for Korean market.
Besides, a Vietnam-based compostable material factory was invested with estimated value of USD 100 million. This would be the first plant to produce PBAT (a bio-plastics) in the Southeast Asia. Its designed capacity was gradually increased and expected to obtain 50,000 tons per year by 2025 to serve for Asian market in the meantime.
The strategic cooperation with TLC is a new progress of An Phat Holdings to successfully penetrate the international market, diversify its offerings made of compostable materials and join the value chain of world environmental protection.
As part of An Phat Holdings’ strategy on international expansion and development of compostable products, An Phat Holdings not only cooperated with TLC in Korea, An Phat also planned to build a plant manufacturing compostable items and a number of eco-friendly products in the US, labeled as An Phat USA. The plant was planned to be provided with modern production line and advanced technologies. Currently, the products were expected to mainl serve for the North American market.