Espolitech Awarded the '50 Million Dollar Export Tower' on Trade Day

[Asia Economy Reporter Hyunseok Yoo] Engineering plastics specialist Espolitec announced on the 8th that it received the $50 million Export Tower Award at the 57th Trade Day ceremony held at COEX, Seoul. Following the $30 million Export Tower Award in 2018 due to continuous export growth, the company has now been honored with the $50 million Export Tower Award.

Espolitec, awarded the $50 million Export Tower, operates in the engineering plastics sector for construction materials and the optical sheet film business, including light guide plates. Especially, with increased sales of engineering plastic products, the company achieved consolidated sales of 40.7 billion KRW and operating profit of 6.1 billion KRW in the third quarter of this year, marking increases of 18% and 45% respectively compared to the same period last year.

Espolitec exports PC panels for GILBARCO INC. fuel dispensers and high value-added products such as flame-retardant PC, successfully diversifying exports centered on the United States as well as China, India, Turkey, and Vietnam.

An Espolitec representative stated, “Through continuous research and development to enhance product competitiveness, we currently export to about 20 countries including the United States, China, and India, and plan to expand both domestic sales and exports through the development of various products.”

This content was produced with the assistance of AI translation services.