On June 19, under ty le keo 365 witness of Deputy Prime Minister of ty le keo 365 Socialist Republic of Vietnam – Mr. Vuong Dinh Hue, together with Mr. Kwak Young Kil, Chairman of Aju Communication Group and Oriental Express Foundation, President of Vietnam – South Korea Economic and Cultural Exchange Association, An Phat Holdings and TLC Company (Korea) have signed a Memorandum of Understanding (MoU) on ty le keo 365 Strategic Cooperation in ty le keo 365 research and production of AnBio compostable materials in Korea and Vietnam.
According to this strategic cooperation, An Phat will contribute 51% of ty le keo 365 capital to TLC Company for ty le keo 365 two parties to implement ty le keo 365 following strategic objectives:
– Producing AnBio compostable materials and products made from these materials for Korean market
– Establishing R&D Center (Research & Development) in Korea for AnBio compostable materials
– Investing in building a compostable factory in Vietnam, estimated value of USD 100 million. This will be ty le keo 365 first plant to produce PBAT (a bioplastic) in Southeast Asia, ty le keo 365 design capacity will gradually increase and is expected to be 50,000 tons / year by 2025, foremost providing products for Asian markets.
ty le keo 365 strategic cooperation with TLC is a new step of An Phat Holdings in an effort to expand ty le keo 365 international market and diversify products made from AnBio compostable materials as well as participating in ty le keo 365 global protection environment value chain.
An Phat has paid much attention to South Korean market as well as maintaining good cooperation with many South Korean customers.
About two years ago, Samsung Securities Company Limited, a subsidiary of Samsung Group, introduced to more than 300 investors in South Korea about ty le keo 365 opportunity to invest in An Phat Bioplastics (AAA), owned by An Phat Holdings. In February 2018, a South Korean investment fund named Valuesystem invested US $ 15.6 million, equivalent to VND 353 billion into An Phat Holdings. Also in 2018, An Phat Holdings officially opened a representative office in South Korea with ty le keo 365 purpose of understanding ty le keo 365 market, customers’ needs for packaging products, especially products made from AnBio compostable materials. After a period of research, An Phat Holdings found that South Korean market is very attractive for producing compostable products, and TLC plays a vital role to accomplish this goal. Since then, An Phat Holdings and TLC have worked together for over 6 months to appraise ty le keo 365 project, design appropriate business models along with planning ty le keo 365 project strategies.
As part of ty le keo 365 strategy to expand and develop compostable products globally, in addition to cooperating with TLC in South Korea, An Phat is also planning to build a specialized factory in producing compostable products and environmentally friendly ones in ty le keo 365 US, named An Phat USA. ty le keo 365 plant is expectedly invested with a line of modern machines and advanced technology. It is estimated that ty le keo 365 products will be mainly provided to ty le keo 365 North American market.
Currently, An Phat is ty le keo 365 first manufacturer in Vietnam to be granted ty le keo 365 TUV Vincotte OK HOME COMPOST international certificate for AnEco compostable products (compostable bags, gloves …). An Phat is also ty le keo 365 only enterprise in Vietnam and one of ty le keo 365 five Asian representatives joined in ty le keo 365 European Bioplastic Association.
