Taiflex to Expand in Thailand; Signs Land Purchase and Sale Agreement

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Taiflex  Scientific  Co., LTD. has signed the Amata City  Chonburi  Industrial  Estate land purchase contract with AMATA Corporation in Bangkok. With the signing of the Regional Comprehensive Economic Partnership (RCEP), Taiflex plans to set up overseas production bases to rise its global competitive advantage. Therefore, Taiflex takes Southeast Asia as a priority choice for overseas layout, and finally settled in Amata City Chonburi Industrial Estate, Thailand.

After five years of evaluation, Taiflex set a new milestone in the global strategic arrangement. Not only established Rudong Fuzhan Scientific Co., Ltd. in Rudong County, Jiangsu Province, China, in 2018, as the core production base to strengthen the expansion of the China market, but expand investment in the second-phase construction project in 2022 to take advantage of raising overall competitive advantage. Meanwhile, Taichem Materials Co., Ltd. was established in 2020. With the profound formulation experience accumulated over the past 20 years, it has entered the field of advanced semiconductor packaging materials and has got an excellent performance. For strengthening the global business development, Taiflex has established a Thai subsidiary in the first quarter of 2022 and got admission from the Board of Investment Promotion of Thailand (BOI), which applies to various investment incentives. This time, it is estimated that US$35 million will be invested in the first phase of construction in Amata City Chonburi Industrial Estate, Thailand, and mass production is planned for the first half of 2024.

Taiflex chose Thailand as the third production base, mainly focusing on the Thai government's active promotion of free trade, and the establishment of "Thailand 4.0", "Eastern Economic Corridor Development Plan", and other policies to support economic and technological growth. Meanwhile, Thailand is strategically located as an important transportation hub in Southeast Asia, which can further enhance the flexibility of logistics planning. In addition, the popularization of higher education in Thailand can continue to provide top talents for the industry, which is conducive to the long-term development of Taiflex in Thailand. The more important thing is that Thailand is also an important automobile manufacturing center in Southeast Asia. It is known as the Detroit of the East. It has a complete automobile supply chain and is the largest automobile manufacturer and exporter in Southeast Asia. In recent years, it has actively promoted the development of the electric vehicle industry. Taiflex has produced materials for electric vehicles for a long time. As the only supplier of FCCL materials with a factory in Thailand, it will become a part of the Thailand vehicle supply chain, realize localized production and provide more immediate services to satisfy the demands of the vehicle industry.

AMATA Corporation has 30 years of experience in industrial zone development. The output value of the industrial zone developed by the group exceeds 10% of Thailand's overall GDP, ranking in the leading position in the development of industrial and commercial zones in Thailand. Amata City Chonburi Industrial Estate is located in Chonburi Province, southeast of Bangkok, Thailand. It belongs to the Eastern Economic Corridor (EEC) of Thailand. The total area of the estate is 4,000 hectares, making it the largest industrial estate in Thailand. There are more than 770 companies stationed in it, with a total labor force of more than 210,000 people. It has formed a large-scale industrial cluster and has completed various functions such as life, leisure, teaching, and research. There are two existing highways, which can reach Suvarnabhumi International Airport (BKK) and Thailand's largest port Laem Chabang within half an hour. It is also only an hour's drive to downtown Bangkok. The follow-up high-speed railway line is also expected to set up a station here, which shows the convenience of its transportation network. In addition, "AMATA Taipei Smart City" jointly developed by Taiwan and Thailand is adjacent to the north of the existing industrial estate. Construction also started in January 2022. In the future, Taiwanese businessmen will form an industrial cluster here, and Taiwanese manufacturers will be gathered here by using their technology and operational capabilities to create unlimited business opportunities.