Wholly owned Polyplex (Singapore) Pte Ltd. plans to set up the company, with a goal of establishing a significant presence in China, which is one of the largest markets for thin PET film in the world.

Polyplex’s board approved the new unit on February 13 in Bangkok.

Polyplex Group, based in Noida, India, is the world’s fourth largest maker of thin PET film, with annual capacity of 106,600 metric tons. The company has film extrusion facilities in Thailand, India and Turkey, and there has been discussion of adding a plant in Mexico.