Extrusion International 4-2023-USA

37 Extrusion International 4/2022 Opening of Singapore Subsidiary Announced Conventus Polymers, a leading distributor of high-per- formance engineering thermoplastics, has established a subsidiary in Singapore, Conventus Polymers Singapore Pte. Ltd., which will offer the company’s broad portfo- lio of products to processors and end users throughout Southeast Asia. The expansion into Singapore is part of the company’s overall business strategy to grow into key geo- graphic regions. Establishing a legal entity strengthens its position in the Southeast Asian market and allows the company to offer world-class local service and support.to both local custom- ers (plastic converters) and U.S.-based OEMs that it current- ly supports. Singapore is the main business hub for South- east Asia, which includes Malaysia, Vietnam, Thailand, Philippines, and Indonesia. “Our business is growing quickly and with our extensive product portfolio of specialty engineering plastics, we are firmly positioned as a strategic supplier,” said John Jor - gensen, president of Conventus Polymers. “This important move into Singapore signals our further commitment to lo- cal players along with key multinational OEMs.” Conventus chose Singapore based on several factors in- cluding geographic location, ease of doing business, and tax laws. Jorgensen said many U.S.-based OEMs are re-as- sessing risks associated with supply chains, resulting in an increase in molding done in Vietnam, Malaysia, and Thai- land.While the regionwas showing strongorganic growth, it has been one of themain beneficiaries of the geopolitical tension between the U.S. and China. Considerable mold- ing previously done in China has moved to Southeast Asia among other places like reshoring to the United States or near-shoring to Mexico or Costa Rica, said Jorgensen. The Singapore initiative will expand Conventus’ reach into existing strategic markets such as electrical/electronics, building and construction, water management, consumer goods, energy, and healthcare, according to Jorgensen. With a legal operating entity in Singapore, Conventus can offer its international customers import and export capa- bilities, local inventory and warehousing, local currency transactions, and Delivered Duty Paid (DDP) Incoterms. Conventus will handle all exporting, importing, insurance, customs clearance, duty costs, and freight from port to warehouse to the customer. To service the Singapore market, Conventus will estab- lish a warehouse location which will support its Southeast Asian customers. The Singapore operation is currently be- ing managed by China General Manager Harley Shi. Conventus is selling the same global portfolio of prod- ucts in Singapore including specialty nylons, polysulfones, thermoplastic vulcanizates (TPVs), and custom compounds. Conventus Polymers LLC Conventus Polymers Singapore Pte. Ltd. www.conventuspolymers.com NewMember of the Board of Directors Announced FRX Innovations, a developer and manufacturer of environmentally sus- tainable flame-retardant additives, announced the appointment of Pat- rick Muezers to its Board of Directors. Muezers has over 20 years of experi- ence in building and growing special- ty chemical companies globally. Most recently, he successfully completed an M&A transaction for Polyscope Poly- mers B.V., a European specialty plas- tics company that he founded and grew through to a successful exit. Muezers noted, “I am very excited to join the FRX Innovation Board of Directors. The dedication of the FRX team to serve and support its global customer base with the introduction of the highly innovative Nofia ® prod- uct range, complemented by a state- of-the-art asset, gives me great en- ergy to take part in FRX’s growth as it drives the global change towards halogen- and PFAS-free solutions in polymer systems where the market never expected to be possible.” As a result of his growing com- mitments as CEO of Platinum Group Metals, contemporaneously with the appointment of Patrick Muezers, Frank Hallam will be transitioning from the FRX Board of Directors, where he served as Director and Chair of the Company’s audit com- mittee. Hallam noted, “It has been a true pleasure serving as a Director at FRX Innovations. The company has an exciting future ahead and I wish the FRX board and team the best in its growth plans”. Ross Haghighat, Chairman of FRX Innovationsnoted, “Wearepleased to welcome Patrick to FRX and look for- ward to benefiting from his decades of experience as a founder, operator, and strategic leader. The momentum created by recently passed legislation is providing the company with several exciting strategic opportunities that Patrick’s experience proves quite rel- evant to. Haghighat went on to say, “we have been fortunate to have had Mr. Hallam on the FRX board. He made strong contributions to the company, and we wish him well with PlatinumMetals Group.” Marc Lebel, CEO of FRX Innova- tions added, “I have known Patrick for some years and am excited that he will join our board. His exten- sive experience in specialty plastics, coupled with his ability to execute large strategic agreements and M&A transactions, is very relevant to FRX, and he’s joining us at exactly the right time. I would also like to thank Mr. Hallam for his excellent contribu- tions and wish him the best.” FRX is in commercial production at its fully permitted facility in Antwerp, Belgium, where it currently supplies Nofia Flame Retardant Polymers to a growing number of multinational OEMs around the world. FRX Innovations www.frx-innovations.com