July 31, 2023 7:09:21 PM
Conventus Announces Opening of Singapore Subsidiary
PARSIPPANY, N.J., July 31, 2023 – Conventus Polymers LLC, a leading distributor of high-performance engineering thermoplastics, has established a subsidiary in Singapore, Conventus Polymers Singapore Pte. Ltd.., which will offer the company’s broad portfolio 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 geographic 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 customers (plastic converters) and U.S.-based OEMs that it currently supports. Singapore is the main business hub for Southeast 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 Jorgensen, president of Conventus Polymers. “This important move into Singapore signals our further commitment to local players along with key multinational OEMs.”
Conventus chose Singapore based on several factors including geographic location, ease of doing business, and tax laws. Jorgensen said many U.S.-based OEMs are re-assessing risks associated with supply chains, resulting in an increase in molding done in Vietnam, Malaysia, and Thailand. While the region was showing strong organic growth, it has been one of the main beneficiaries of the geopolitical tension between the U.S. and China. Considerable molding 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 capabilities, 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 establish a warehouse location which will support its Southeast Asian customers. The Singapore operation is currently being managed by China General Manager Harley Shi.
Conventus is selling the same global portfolio of products in Singapore including specialty nylons, polysulfones, thermoplastic vulcanizates (TPVs), and custom compounds.