Parx Plastics signs letter of intent to set up production facility in Sino-Italy Ecological Park

4 November 2017

On October 30th a signing ceremony was held in Milan Italy to celebrate the intended cooperation and the set-up of a new joint venture to bring the safe biocompatible antimicrobial technology of Parx Plastics into the China market through a dedicated production facility in the Sino-Italy Ecological Park.

The Sino-Italy Ecological Park is located in the Yangtze River Delta in the triangle Ningbo – Shanghai – Hangzhou and is a joined initiative of the Chinese and Italian governments to bring forth a pilot city promoting and stimulating joint efforts in the development of resource-saving, environmental friendly, ecological innovations. This new 40 km2 zone will house innovative and leading companies in the field of new materials, plastics, automotive, aerospace and clean energy, pushing innovations in these fields and the cooperation between the two nations forward.

With the set up of Ningbo Parx New Materials Co. Ltd. joint venture and the signed cooperation with Sino-Italy Tus Investment (Zhejiang) Co.Ltd. Tus investment approved the Parx Plastics business philosophy, the technical value of the Parx Plastic technology and the prospected market potential. Parties will work together to find the right market opportunities, build relationships with the relevant governmental agencies, find relevant partners, investors, bank financing possibilities and involve the local government, institutions, listed companies, scholars, experts, political celebrities and other elite participants to set-up, promote and expand the joint venture company.

“Italy, China and the Yuyao, Ningbo government is taking a tremendous leap forward building a resilient location of significant magnitude to stimulate innovations and technologies that address the world’s challenges that are laying ahead. “ says Parx Plastics CEO Michael van der Jagt. “It is a great honour that we can join the mayor of Yuyao and his teams in this exciting development and it is very exciting for Parx Plastics to become part of this vibrant area.” says Van der Jagt