IRPC and Innobic (Asia) announced a joint venture to set up a company “Innopolymed” penetrates the medical device market

The Board of Directors’ meeting of IRPC Public Company Limited (IRPC) and PTT Public Company Limited has resolved to approve the establishment of “Innopolymed Company Limited” which It is a joint venture between IRPC and Innobic (Asia) Co., Ltd. (a wholly owned subsidiary of PTT) to produce non-woven fabrics that are formed by melt method. Blown, which is the main raw material for filter fabrics for surgical masks, N95 masks, gowns and air filters, etc., is an important step in entering the medical device manufacturing industry. instead of importing raw materials Enhance the stability and competitiveness of Thai medical device manufacturing to be on par with international standards. Commercial sales are expected to begin in the fourth quarter of 2021.

“Innopolymed Company Limited” was established with a registered capital of 260 million baht in which IRPC holds 60% of the shares and Innobic (Asia) holds 40% of the shares to operate a medical equipment business such as Face mask filter formed by Melt Blown method”

Dr. Buranin Ratanasombat, Senior Executive Vice President, Downstream Petroleum Business Group, PTT Public Company Limited and Chairman, Innobic (Asia) Company Limited or Innobic (Asia) ) said, “The establishment of Innopolymed Co., Ltd. is another important step in the PTT Group’s life science investment by combining knowledge in materials science with medical and health knowledge of The two companies merged. Driving the medical device manufacturing business, which is one of PTT’s 4 new business groups in Life Science. The key goal of this investment is to create a Product Champion that can be developed into materials and important components in the device. medical and other health, reducing dependence on imports and promote the New S-Curve development policy in Medical Technology of Thailand”

Mr. Chawalit Tippawanich, President and Chief Executive Officer of IRPC Public Company Limited or IRPC, said, “Such cooperation is to expand business by extending innovation to benefit the country. Especially the health business group Hygiene and medical  which is a new business group that IRPC gives importance to and sees an opportunity.    in creating innovative specialty plastic resins to become Smart Materials that respond more to consumers  It is also an expansion of existing business cooperation, such as Wachira Lab for Society Co., Ltd., which is the first central laboratory that provides comprehensive medical device quality testing services in Thailand. and Southeast Asia”

For non-woven fabrics (Non-woven Fabrics) that are formed by Melt Blown method are characterized by small fibers. and resolution at the nanometer to micrometer level It has high efficiency filtering properties. Made from special polypropylene plastic resin (PP melt blown grade) that IRPC Co., Ltd. researches and develops, is the first and only manufacturer in Thailand.

IRPC and Innobic (Asia) believe that this joint venture to establish Innopolymed Co., Ltd. will help increase stability and strength in the medical and public health equipment manufacturing industry for country according to the policy of Thailand 4.0 to become a medical hub as well as elevate the quality of life of Thai people. And ultimately support the Thai economy to grow sustainably for the non-woven fabric factory that is formed by the Melt Blown method will be located at IRPC Industrial Zone, Rayong Province, is expected to begin commercial production and distribution in the fourth quarter of 2021.