Hong Kong A Stepping Stone To China For Japanese Chemical Major

by Mary Swire, Tax-News.com, Hong Kong

26 December 2006

Prime Polymer Co., Ltd., the largest polyolefin producer in Japan, has established an operation in Hong Kong to tap the growing demand in the Mainland of China and Asia.

As part of the company’s worldwide development plan, it has set up a wholly owned sales company in Hong Kong, Prime Polymer Asia Co., Ltd., targeting sales and conducting marking activities in China and the rest of the region.

Commenting on the move, Managing Director of Prime Polymer Asia, Takashi Hayashi, explained:

“We choose to open in Hong Kong because this is the best place in many aspects, such as the excellent accessibility to the Mainland China and other Asian countries. The information we gather in Hong Kong is vital to conduct our business. Also the high quality workforce in Hong Kong played an important role in our decision to set up a base here.”

The company's decision was welcomed by the Associate Director-General of Investment Promotion at Invest Hong Kong, Mark Michelson.

“I am delighted to see another leading chemical company chooses Hong Kong to set up its regional base. I expect that the rapid development of the differentiated market in the region will provide a tremendous opportunity for this new venture. We at Invest Hong Kong wish Prime Polymer every success here and in the rest of Asia," said Michelson.

Headquartered in Tokyo, Prime Polymer Co,. Ltd. was established in 2005 as part of a comprehensive tie-up linking Japanese leading chemical company, Mitsui Chemicals, Inc. and Japanese leading Oil refinery, Idemitsu Kosan Co., Ltd. to further expand the polyolefin business globally. Prime Polymer has five production centres in Japan and polypropylene composites supply systems in China, Southeast Asia, Europe and North America.

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