Sincerity Applied Materials Holding has unveiled plans to enter the US market, helping to serve customers in the region.
Presently over 90% of SAPL's revenue is derived from sales within the Australian market. However, due to the strong international presence of SAPL's major customers such as Visy Industries, particularly in the U.S., combined with the advanced technological metrics of SAPL's product range (breathable stretch film and antibacterial polymer products), it is expected that SAPL's products will be increasingly utilized in global markets.
"The expansion into the largest consumer market in the world is beneficial for our company. A global customer reach will expand and diversify our revenue base," stated Chairman and CEO James Zhang.
"SAPL will continue with the process of further vertical integration of its product range," Mr Zhang continued.
"Value adding packaging technology, such as breathable film and ventilated stretch film is expected to provide an innovative edge over our competition. Rapid growth in demand for fresh fruit and vegetable packaging and transportation is already reflected through increasing sales to Visy Industries and will allow SAPL to transition these new products to the global market."
Visy Industries was established in Melbourne, Australia in 1948 and has since grown to become one of the world's largest privately owned paper, packaging and recycling companies.
Today, Visy employs more than 9500 people in Australia and the United States (where it is known as Pratt Industries USA), with total sales exceeding more than $5 billion. Visy operates in over 120 sites throughout Australasia and has trading offices across Asia and Europe.