Dow Introduced PacXpert Technology in China
Published By : 19 Aug 2015 | Published By : QYRESEARCH
Specialty Plastics and Dow Packaging have collaborated with a Chinese firm to introduce Dow’s flexible packaging technology called PacXpert in the lucrative China markets. Dow and Hunan China Sun Co. Ltd signed a licensing agreement on 18th August. Under the contract China Sun will launch PacXpert to its huge customer base in China. China Sun is multi-million dollar manufacturer of medical equipment and pharmaceutical. The company also specializes in manufacturing pharmaceutical and space food packages.
The publicly listed company will leverage PacXpert for technologies in flexible packaging in edible oil, rice, detergent, and engine oils. The deal marked the second PacXpert license in the Asia Pacific region, following Kyodo Printing in Japan in 2014. However, globally the deal is in the ninth position.
The food market in Asia Pacific is thriving owing to which the region also hosts the largest market for flexible packaging. Asia Pacific at presents accounts for over 38% of the global flexible packaging market volume and is expected to grow at the fastest pace in the consumer flexible packaging sector, said the vice president for Specialty Plastics and Dow Packaging in Asia Pacific, Mark Saurin.
Saurin said that China’s food market provides huge potential for flexible packaging in the country, hence they are excited to partner with China Sun to bring PacXpert to the Chinese market. The founder and president of China Sun, Xianghua Liu said that the collaboration with Dow is intended to strengthen their position in the market and foster better opportunities to explore and expand their prospects in the country. Liu further expressed that he is confident that customers in China will readily accept PacXpert flexible packaging technology, which in turn will propel greater success for the industry.
The lightweight packaging promises to be very useful for food services, household, institutional, and industrial applications.