Grand Opening Ceremony at Prime Evolue Singapore
April 11, 2017
Prime Polymer Co., Ltd.
Prime Evolue Singapore Pte. Ltd. (President: Naoshi Hamada; Prime Polymer 80% and Mitsui & Co., Ltd. 20%; hereinafter “EVLS”), a local subsidiary in Singapore of Prime Polymer Co., Ltd. (President: Takeshi Kaide; Mitsui Chemicals, Inc. 65% and Idemitsu Kosan Co., Ltd. 35%) held Grand Opening Ceremony on April 10, 2017.
A total of 300 people attended the ceremony, including Singapore’s Minister for Trade and Industry (Trade) Lim Hng Kiang, Ambassador of Japan to Singapore Kenji Shinoda, other distinguished guests, customers and other stakeholders. President Hamada of EVLS gave a speech, noting that EVLS would contribute to the development of the packaging industry in Asia and other regions with customers and expressing the company’s commitment to the safe and stable operation of the plant and to its business operation.
The Evolue™, which we manufacture and sell, is high performance polyethylene manufactured using metallocene catalyst for highly functional sealant with impressive strength, airtightness, and heat seal-ability in addition to low odor and low fish-eye, and are therefore widely used as high-performance sealants in flexible packaging for foods and various daily necessities.
Demand for highly functional sealant materials is expected to increase further in the Asian market, and the Company established EVLS in Singapore close to the growing Asian market in October 2012. EVLS commenced commercial operations smoothly in August 2016. With its annual capacity of 300,000 tons, together with that of the first commercial plant in Ichihara Works, Japan, the total Evolue™ production capacity of Prime Polymer Group becomes 550,000 tons.
“The opening of the EVOLUE plant in Singapore, its only one outside of Japan, reflects our attractiveness as a high value-added manufacturing location,” said Mr Damian Chan, Executive Director, Energy & Chemicals, Singapore Economic Development Board. “EVOLUE’s plant is exemplary of how companies can leverage Singapore as a base to tap into opportunities brought about by the rising Asian middle class. We are committed to growing the Chemicals industry, and will continue supporting companies to identify avenues to grow their business and create good job opportunities for Singaporeans.”
The Group will consolidate its leading position in Asia, including Japan, by significantly expanding the supply capacity of highly functional sealant materials through the business development of EVLS and further strengthening and expanding the Evolue™ business.
|Company name||Prime Evolue Singapore Pte. Ltd.|
|Capital||USD 115 million|
|Ownership||Prime Polymer Co., Ltd.: 80%, Mitsui && Co., Ltd.: 20%|
|Main Business||Manufacture and sale of the Evolue™, metallocene polyethylene|
|Plant Location||Tembusu, Jurong Island, Republic of Singapore|
|Capacity||300,000 metric tons per annum|
|Technology||Evolue™ process, licensed by Mitsui Chemicals, Inc.|
|Product Applications||High-performance sealants for food packaging, etc.|