China Green Material Technologies plans to bring its new production capacity on line in the second half of 2010, which will raise annual production capacity by approximately 45%.
China Green Material Technologies (CAGM), a prominent player in developing and manufacturing starch-based biodegradable containers, tableware and packaging materials, has planned to expand its production capacity by launching a new manufacturing facility in the second half of 2010.
The company has planned to add new equipment which will enable CAGM to increase its manufacturing efficiency and meet increasing market demand for its biodegradable consumer products. CAGM expects total revenues in 2010 to increase between 25% and 30% from the $13.4m reported in 2009. The expanded capacity will support the company’s anticipated growth through 2011.
Zhonghao Su, chief executive officer of CAGM, said. “The global market demand for environmentally-friendly, bio-degradable products is among the fastly growing in the consumer products segment. We are ideally positioned in China, where our company has a strong position in a highly fragmented market, maintains a low cost advantage and offers superior product performance.
“To capitalize on the rapid domestic growth, we are focused on increasing our market share in the airline and railway sectors, developing additional clients in the fast food industry and expanding our network of agents and distributors. To pursue further growth in international markets, we are working with distributors to expand our reach to the US, France, the UK, Israel, Korea and Japan.
Importantly, we have a focused sales and marketing strategy in place to execute our plans and expect to achieve revenue growth of 25-30% in 2010.”