New Zealand plastics industry to boost sales to $4 bln within 10 years

09-Aug-05

The plastics industry in New Zealand has grown on an average by 8% pa. Plastics products currently constitute about 15% of the industry's output by value, components 30% and packaging 55%. The plastics industry in New Zealand has concluded that better training, focus on design innovation, tertiary qualifications and skills are required for strategical progress in this sector. The 400-company plastics industry in New Zealand plans to double its sales to $4 billion within 10 years with an impetus on research, education and training. Post a Government-funded research, the following strategy has been devised: * To improve industrial sectors such as food, technology, health and appliances * An increase in direct exports from about $350 million to about $500 million pa in 5 years and to about $1 billion pa by 2015 * Indirect exports to increase from $500 million to $850 million within 10 years. * Commence training for about 200 technicians a year * Lift per worker productivity from approx $250,000 pa to about $300,000 by 2010 and about $325,000 by 2015. * Establish a plastics polymer and process research centre modeled on the light alloys group at Auckland University funded by Technology NZ by the end of this year. * Introduce an engineering degree with plastics as an option from next year and Canterbury University is to offer a mechanical engineering degree with a focus on plastics from 2007.