RadiciGroup Plastics and Lati Industria Thermoplastici SpA join forces to develop the Chinese market
RadiciGroup plastics and Lati Industria Termoplastici SpA have signed a letter of intent to form a fifty-fifty joint venture to develop the Chinese engineering plastics market.
According to the company the constant growth of this Asian market offers attractive opportunities for businesses with a strong international presence and a wide range of products.
The surging Chinese auto industry, the huge potential arising from the modernization of the electric power grid and electrical equipment, the growing pool of domestic appliance buyers, the large investments in infrastructure, the increasing hunger for high quality goods: these are the factors that will have an increasing influence on Chinese growth, which up to now has been tied to the competitive advantage of low-cost labour.
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