"HMC Polymers" moves forward steadily towards its 40th year, aiming for sustainable growth as SEA's leading PP’s manufacturer through the concept of "INNOVATE ENDLESS POSSIBILITIES"
HMC Polymers Co., Ltd. or HMC Polymers, the first and largest manufacturer and distributor of polypropylene or PP resin in Thailand and the forefront in Southeast Asia held its press conference on an occasion of 40th anniversary, aimed to drive business stability coupled with sustainable growth through the concept of "INNOVATE ENDLESS POSSIBILITIES", along with the addition of a new leader, Mr. Corso Uzielli. HMC Polymers plays an important role as a manufacturer of premium grade PP resin in promoting innovation and creating new products that drive both the economy, quality of life and sustainability. Revealing operating results for the year 2022, total revenue of 32 billion baht, growing by more than 4%, ready to set a target for the year 2023 to sweep the revenue of 45 billion baht.
Mr. Corso Uzielli, President of HMC Polymers, said, “Entering its 40th year, HMC Polymers continues to innovate and develop excellence in both production bases and conducting business in every dimension, continuously aiming to push the 4th production line of the polypropylene plant (PP4) , which was completed in the last quarter of 2022 to operate at full capacity in order to achieve the target of more than 1 million tons of PP resin per year with the most advanced Spherizone technology in the production of PP resin from LyondellBasell, a shareholder of HMC Polymers to produce specialty grade and differentiated grade PP resin, which is different from other manufacturers in the market for a wider range of applications, whether in the healthcare and hygiene, rigid and flexible packaging and a group of industrial products, ”Mr.Corso concluded.
Mr. Pornchai Pichitwutikorn, Senior Vice President of Business Strategy, Innovation, and Commercial added that “After the completion of PP4 plant’s construction, HMC Polymers has two main plans, firstly , product development to meet all the needs of customers to differentiate and gain an advantage over competitors including creating added value, reducing costs and increasing production rates. Along with expanding opportunities to sell new products in domestic and international markets. As a result, the business grows steadily and sustainably. Secondly, market expansion to other regions such as Central Asia, Africa, South America, etc. will increase the export value of HMC Polymers' Specialty PP resin industry and enhance the image of the company and the Thai economy as a leading competitor in Southeast Asia.
HMC Polymers is also committed to the application of international ESG (Environment, Social, and Governance) principles in its operations and sustainability management which is divided into 3 pillars as follows: 1.Carbon Neutrality : under the study of greenhouse gas emission reduction project 2.Connectivity : balancing community and society through various projects and 3.Circularity : focus on reducing the use of new resources according to the Circular Economy principle. Currently, it is in the process of developing PCR plastic resin (Post-Consumer Recycled) which is reusing PP plastic that has been used by consumers and come through the cleaning process feature improvements with technology or innovation to be able to be reused, including experimenting with the PP Reborn project, a waste management platform to stimulate the social to see the importance of the circular economy in a wide area.”
Ms.Angkanee Soonthornsawad, Vice President of Finance, Accounting and Corporate Support, concluded the press conference on HMC Polymers' overview and financial highlight. The global economy in 2022 will slow down due to the war between the Russian Federation and Ukraine and the Republic of China's Zero-Covid policy coupled with the emergence of several new PP resin manufacturers but thanks to the Operational Excellence policy, HMC Polymers had a total revenue of 32 billion baht last year, or a growth of more than 4%, with the proportion of sales of special grade products SPDP (Specialty-Differentiated) more than 50% of sales and create new innovations through product development, with growth in NPD +10% in average. The overall financial position is strong with a high proportion of capital and a low debt-to-equity ratio of 0.7 times with total assets of approximately 40 billion baht, sufficient cash flow liquidity, and from this strong financial position, HMC Polymers has received a credit rating from Fitch Rating Agency is rated A-.”
HMC Polymers, entering its 40th year, continues to innovate and extend products to a wide range of applications to answer and improve the quality of consumer's life based on the consideration of the environment and sustainability for the greatest benefit to all life in society.