Scientex announces investment of USD25 million to set up stretch film manufacturing facility in Arizona, United States of America and formation of a wholly-owned subsidiary, Scientex Phoenix, LLC
Scientex invest approximately USD25 million for the setting up of a new stretch film manufacturing facility in Arizona, United States of America with two (2) lines to be installed and commissioned in financial year 2018.
The tremendous and rapid growth in the USA’s shale gas industry offers vast opportunities as the abundance of raw materials extracted using the latest technology will enable Scientex to be in the position to procure raw materials easily due to its proximity to the source of supply of raw materials. This will in turn enable Scientex to produce and manufacture its products at competitive prices to serve the immediate market within the United States of America.
