RIM Polymers targets US and Europe for expansion

摘要

Singapore-based polyurethane machinery maker RIM Polymers Pte. Ltd. expects to buy or set up a company in the U.S. by the end of 2019, said Oei Han Tjing, executive vice president of CEH Group, which owns RIM Polymers. The company is following a two-phase expansion strategy, said Tjing, "Phase one is to go to North America, and we will acquire something or set up something and then expand from North to South America," he said. CEH Group already has a company in Seattle which makes polyurethane transfer pumps. "[The Seattle company] was a joint venture with Gusmer. But we have had 100 percent control since 1998. We can launch further from there," Tjing said. "We have a lot of customers in the Asia Pacific which used to export to the U.S. Now they have moved into the U.S. They are asking us to move with them." CEH Group is talking to a few companies in North America, Tjing said. "We have not made a final decision," he said. "It is not easy to find the right company to acquire. We may set up our own operation, we are still searching."