16 Jun 2008 07:00
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For Immediate Release |
16 June 2008 |
Plastics Capital Plc
("Plastics Capital" or the "Company")
BNLΒ opensΒ manufacturingΒ site in Thailand
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Plastics CapitalΒ PLCΒ (AIM;Β PLA), a fast-growing acquisitive plastics products manufacturer focused on proprietary products for niche markets,Β today announces that one of itsΒ subsidiaries,Β BNL (UK) LimitedΒ ("BNL"),Β the UK-based plastic bearing designerΒ and manufacturer, is opening aΒ factory in Thailand to streamlineΒ itsΒ supply chain and increase capacity as its operations continue toΒ expand.
ToΒ accommodateΒ futureΒ expansionΒ and following significant growth over the past two years,Β BNLΒ isΒ establishingΒ a purpose-built factoryΒ near Rayong,Β one ofΒ Thailand'sΒ thriving industrial and manufacturing centres. The new factoryΒ will be handed over to BNL in June and productionΒ willΒ commenceΒ in OctoberΒ this year.
The factoryΒ will predominantlyΒ benefit BNL'sΒ localΒ customers by bringing production closer to their own manufacturing bases.Β Β The site is also close to one of BNL's major suppliers,Β creatingΒ efficienciesΒ throughout the entire supply chain.
Initially taking onΒ assembly of parts for some Asia-basedΒ customers, there will be further opportunities to transfer other assembly work and moulding activities to the factory. A team ofΒ 50Β assemblersΒ will commenceΒ operationsΒ during AugustΒ and September. AdditionalΒ staff willΒ operateΒ sevenΒ newΒ 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,Β willΒ overseeΒ theΒ ThailandΒ operation asΒ the Managing DirectorΒ ofΒ BNL (Thailand) Limited. Gavin has lived and worked inΒ ThailandΒ for 10 years and is experienced in setting up operations inΒ Thailand,Β MalaysiaΒ andΒ ChinaΒ for international manufacturing giants such as Flextronics and Sanko Gosei.
Neil Partlett, Managing Director,Β commenting on BNL's expansion inΒ AsiaΒ said:
"BNL's sustained growth means we have to plan for new capacity and this, combined with increasing sales of our productsΒ into Malaysia,Β ChinaΒ and other countries in Asia encouraged us to establish a new factory inΒ Thailand."
Faisal Rahmatallah, Executive ChairmanΒ added:
Β "This is anΒ exciting step for BNLΒ as it proves that in addition to theΒ significant growthΒ inΒ the businessΒ over the last two years, a new manufacturing facilityΒ inΒ ThailandΒ shouldΒ openΒ up new opportunitiesΒ for further expansionΒ in the future."Β
For further information contact:
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Plastics Capital |
0207 326 8423 |
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Faisal Rahmatallah / Nick Ball |
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BNL (UK) |
01423 799208 |
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Donna Loughnane |
donna.l@bnl-bearings.com |
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Cenkos SecuritiesΒ |
020 7397 8924 |
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Stephen Keys /Β Beth McKiernan |
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Buchanan Communications |
0207 466 5000 |
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Richard Darby / Susanna Gale / Christian Goodbody |
NoteΒ toΒ Editors:Β
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 6Β December 2007.Β
Plastics Capital is a consolidator of plastics products manufacturers focused on proprietary products for niche markets. The Group has factories in theΒ UK, an assembly operation inΒ ThailandΒ and sales offices in theΒ USΒ andΒ Japan. Approximately 70 per cent. of sales are exported to countries worldwide. Production is concentrated in theΒ UKΒ where significant engineering know-how and automation underpins the Group's competitiveness.Β
Further information can be found atΒ 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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