Thailand-based melamine producer Srithai Superware has announced plans to invest THB900m ($28m) in 2012, as part of its aim to expand its business.
The company will spend THB550m ($17m) on installing new machines and molds for its plastic products at factories in Thailand and will increase production capacity of preformed products and plastic closure products annually by 20-25% to 1,200t and 500-600t, respectively, bangkokpost.com reported.
Srithai will invest the remaining THB350m ($11m) to expand its melamine business in Thailand and melamine and plastic closure products in Vietnam.
The investment is expected to support the company's growing demand of plastic packaging and melamine products domestically as well as internationally.
Srithai, which further plans to set up a new company to look after its PET bottle blowing plant in 2013, expects to expand business in Vietnam.