Southcorp to enter Asia

Southcorp to enter Asia

MELBOURNE (Reuter): Southcorp Holdings Ltd. plans to expand its PET plastic packaging interests in Asia to exploit growth in the market, managing director Graham Kraehe said.

He said Southcorp was considering establishing PET operations in Thailand, Indonesia and southern China.

Addressing a business luncheon, Kraehe also repeated his previous forecast of future growth in all segments of the Adelaide-based packaging, wine and appliance group.

"You can see why we are confident we have the business poised for growth going forward," he said while giving a presentation on the group's prospects.

He said the market for PET products in Asia was forecast to grow by 20 percent a year until the year 2000, compared with 13 percent in Australia and other mature economies.

The company's entry to the Asian PET market was currently through its Malaysian operations and exports from Asia.

"We will be looking to establish operations in countries like Thailand, Indonesia and southern China," he told a Securities Institute of Australia luncheon meeting.