Prime Evolue Singapore opens S$161m manufacturing plant on Jurong Island10 April 2017
On 10 April 2017, Prime Evolue Singapore officially opened its S$161m manufacturing plant on Jurong Island. The plant produces the raw materials for a highly functional sealant film used in powder and liquid packaging, known as Evolue. It is the only Evolue plant outside of Japan, and will have an annual production capacity of 300,000 tonnes when fully operational in 2020. Prime Evolue Singapore is a subsidiary established under the Prime Polymer Co Ltd and Mitsui & Co Ltd.
At a press briefing, Mr Naoshi Hamada, Managing Director of Prime Evolue Singapore and Director of Mitsui Chemicals, elaborated on their choice of Singapore hosting the company’s first overseas plant. Reasons include Singapore’s well-established infrastructure for the petrochemicals industry, availability of raw materials, strong intellectual property protection and proximity to key customers in the Asian region.
Prime Evolue Singapore expects to grow its 10% share of the high-functioning sealant materials market by another 10% with the new plant. The new facility is expected to create about 50 new jobs for Singaporeans, mainly process technicians and chemical engineers.
Mr Damian Chan, Executive Director of energy and chemicals at the Singapore Economic Development Board, said: "The opening of the Evolue plant in Singapore, its only one outside of Japan, reflects our attractiveness as a high value-added manufacturing location. 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.”
Guest-of-Honour Minister Mr Lim Hng Khiang, Minister for Trade & Industry (Trade), who officiated the opening ceremony, said in his speech that ‘manufacturing continues to be a key pillar of the Singapore economy and the energy and chemical industry remains a strong contributor to our manufacturing sector.”
The industry contributed a fifth of Singapore’s manufacturing value-added last year, and employs over 25,000 people.
10 April 2017