Investing in South Africa


US plastic maker to open SA facility

28 June 2012

ColorMatrix, a subsidiary of New York Stock Exchange-listed PolyOne Corporation and a leading innovator of liquid colour and additives for plastics, has announced plans to open a new facility in South Africa as the company eyes growth prospects on the African continent.

The new facility, which will be located in the Montague Gardens industrial precinct in Cape Town, South Africa, is expected to open in August and will support customers throughout Africa.

Services will include sales, technical support and an on-site laboratory for rapid colour development, the immediate target market being manufacturers of plastic bottles and other containers for drinks and personal care products.

"ColorMatrix is dedicated to helping our customers grow by advancing the performance and value of polymer-based goods globally," William Ravenna, ColorMatrix's MD for Europe, Middle East and Africa, said in a statement on Monday.

"Opening this facility in Cape Town will provide us with a strong, customer-focused presence in this important region."

Robert Patterson, PolyOne's chief operating officer, said that when PolyOne acquired ColorMatrix last year, "we committed to a global 'invest to grow' strategy that would add value to our customers and our shareholders. Our new facility in South Africa illustrates our commitment to this strategy.

"While these operations will initially focus on ColorMatrix products and services, this affords us an excellent foothold to leverage other PolyOne businesses and services throughout the region in the future," Patterson added.

Source: BuaNews

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