Demand for cosmetics packaging colourants strengthening globally
The manufacturing and sales base in Guadalajara, Mexico will allow the plastics giant a stronger foothold in the Americas, the company states, and comes in response to the rise in demand for colour plastics in the country and wider region.
“This expansion demonstrates our commitment to the region and the plastic colourants sector,” stated John Easley, incoming president of Toyo Ink Mexico.
“Backed by a global supply chain and support network, and our unique technological knowhow, the new facility will give us the additional capacity and capability to service and supply our customers throughout the Americas with greater speed and flexibility.”
It is masterbatch, “an essential material for adding colour and function to plastics found in packaging [and] containers”, in particular which is diving demand, according to Tokyo Ink.
Demand for the colourant, the company explains, is increasing steadily in the country, in keeping with Mexico's blossoming manufacturing sector.
“The Toyo Ink Group considers Guadalajara the ideal location from which it can meet the growing demand for masterbatch in the surrounding areas and throughout the Bajio region,” the company confirmed in a statement.
The new subsidiary, Toyo Ink Mexico S.A. de C.V., is a jointly owned operation between Tokyo Ink Holdings Co. (which holds a 60% stake) and its wholly-owned subsidiary, LioChem (a 40% stake).
The subsidiary was established in Mexico in November 2015 as a base for supplying custom colourants to the growing packaging, consumer and automotive markets throughout Mexico and neighboring countries, according to a joint statement from its parent companies.
Production is slated to start in April 2016, and once completed, the facility
will be Tokyo Ink’s second plastic colourant manufacturing base in America and its thirteenth overall, with its operations spanning 11 countries in Europe, the Americas and Asia, including Japan and India.