New 3M plant to slash distribution cost
Singapore- 3M will build a $200 million manufacturing facility in Singapore in a push for operational and distributional costs for customers in Asia.
3M said it could save up to $1 billion in freight, supply and tax costs if certain operations are moved in Asia, according to a report by the Star Tribune. The company said in a press release that relocation will be serving the Asian market as well as support efforts to accelerate growth in the manufacturing sector.
A 3M spokesperson told the Star Tribune that the new film coatings plant in Singapore is an expansion and not a replacement. The plant will make coatings for 3M's optical LCD film products, window films and products with automotive applications.
Kevin Kuck, vice-president of 3M film manufacturing said: "This investment brings us closer to our customers and creates a regional source of supply, which significantly simplifies our supply chain and helps us respond more quickly to our customers' needs in the fast-growing Asia market."
The manufacturing facility will be located in the Tuas Industrial Park with construction commencing in the second quarter of this year and is expected to be completed in 2009. 3M facilities that are currently operating in Singapore include a customer innovation center and the 3M Woodlands facility, which manufactures flex circuits and electronic adhesives.
- 3M Technologies
3M Technologies Related Stories:
- HK Police inks contract with 3M
- SC industry calls for partnerships
- 3M has IT answer to manufacturing
- 3M pays S$3.6m in age-discrimination suit
- Google scores high in corporate reputation
- Bates 141 wins 3M's Filtrete branding duties
- [Video] Pressures increase as economy recovers
- 3M adds Singapore Lab
- Pressure sensitive label market sees highest growth in Asia