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When it comes to food packaging King Yuan Fu sits on Taiwan throne.

With the great boom in frozen food consumption during the past decade in Taiwan, the market for packaging materials has expanded by leaps and bounds. And emerging as king of the hill on the domestic supply side is King Yuan Fu Packing Co., Ltd. of Shu Lin Chen.

Boasting sales equivalent to US$ 16 million last year, the company produces a wide variety of polystyrene-, polypropylene-, PVC-, PET- and ABS-based packaging ranging from containers for fancy chocolate and assorted candy to disposable cups and salad bowls. Products made especially for frozen food manufacturers run the gamut from multi-unit dumpling, dim sum and steam bun trays to compartmentalized dishes for microwave ovens.

In all, packaging for six categories is offered, including non-food containers and building foundation materials sold largely to clients in Japan. The number of items listed in King Yuan Fu's catalog surpasses 3,000.

J.C. Chen, president, told Quick Frozen Foods International magazine that 75% of the food packaging made from his three Taiwan factories' 26 production lines is sold domestically. However, exports represent half of the total sales volume. Some 10 to 20 foreign markets are served at any given time, with Japan and countries in Southeast Asia accounting for most of the business.

What major trends does Mr. Chen see emerging in the Taiwanese food packaging sector? "The microwaveable market is advancing rapidly -- perhaps by as much as 30% annually," he replied. "This will continue for some time to come, since more and more women are working outside of the home. They have little time to serve evening meals, let alone prepare them."

He also anticipates a shrinking in the ranks of packaging suppliers as multi-line specialists such as his company further consolidate their gains. "Many of the smaller factors who have enjoyed riding the rising tide of prosperity could fall off unless they can meet expensive quality control and anti-pollution requirements."

But perhaps the biggest development of all, at least for King Yuan Fu, lies across the strait in mainland China. Mr. Chen has formed a group which has a 70% stake in a new food packaging factory in Changzhou. The remaining shares are owned by the Chinese government.

"Initially, we are only producing boxes used for bulk distribution. And 100% of the output will be used on the mainland," advised Mr. Chen.

The president expressed complete optimism in the Changzhou project. When asked about the nature of guarantees received to bring profits out of China, he smiled and answered: "We don't necessarily want to take the earnings away. There are far too many opportunities on the mainland to invest capital in. We want to diversify our resources in the world's largest, though still budding, market."
COPYRIGHT 1993 E.W. Williams Publications, Inc.
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Title Annotation:Frozen Foods of Taiwan: 1993; King Yuan Fu Packing Company Ltd.
Publication:Quick Frozen Foods International
Article Type:Company Profile
Date:Jul 1, 1993
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