XN000022-1988-05-27 — Page 5

FRIDAY, MAY 27, 1988

"I HAVE NO DOUBT THAT THE PLASTICS INDUSTRY ENCOURAGE THEIR MEMBER FIRMS TO MAKE

ASSOCIATIONS

WILL

FULL USE OF THE CENTRE, AND THEIR PARTICIPATION WILL, IN TURN, ENSURE THAT THE CENTRE RESPONDS TO THE INDUSTRY'S NEEDS IN A TIMELY AND EFFICIENT MANNER, HE SAID.

MR JACOBS SAID THE IDEA TO SET UP THE CENTRE WAS CONCLUDED BY THE INDUSTRY DEVELOPMENT BOARD AFTER IT HAD CONSIDERED THE FINDINGS OF TWO SURVEYS AND FOLLOWING CONSULTATIONS WITH THE VARIOUS PLASTICS INDUSTRY ASSOCIATIONS AND RELATED PROFESSIONAL INSTITUTES.

1985

THE FIRST STUDY WAS COMMISSIONED BY THE GOVERNMENT IN MAY ON THE ADVICE OF THE INDUSTRY DEVELOPMENT BOARD. THE CONSULTANTS RECOMMENDED THE CREATION OF AN ORGANISATION THAT COULD HELP THE INDUSTRY TO MODERNISE AND UPGRADE ITS PRODUCTS AND PROCESSES.

"AT ABOUT THE SAME TIME AS THIS RECOMMENDATION WAS RECEIVED, CHEN HSONG MACHINERY CO LTD TOOK THE INITIATIVE OF ASKING THE HONG KONG POLYTECHNIC TO INVESTIGATE

THE FEASIBILITY OF ESTABLISHING A

SIMILAR INDUSTRIAL SUPPORT FACILITY.

"THE POLYTECHNIC STUDY CONCLUDED THAT SUCH A CENTRE WOULD BE FEASIBLE, AND THAT IT COULD FULFIL A VALUABLE INDUSTRIAL SUPPORT ROLE THROUGH CONTRACT RESEARCH AND BY PROVIDING A RANGE OF TECHNICAL SUPPORT AND CONSULTANCY SERVICES, HE SAID.

MR JACOBS SAID A PROVISIONAL BOARD OF DIRECTORS WAS SET UP LAST JUNE TO PLAN FOR THE CREATION OF THE CENTRE.

HE SAID THE PROVISIONAL BOARD, IN ACCOMPLISHING THIS TASK, HAD ACHIEVED 'A CONVINCING DEMONSTRATION OF HOW INDUSTRY, ACADEMIA AND GOVERNMENT CAN WORK TOGETHER"

"TO THE VERY GENEROUS DONATION OF $10 MILLION FROM CHEN HSONG WILL BE ADDED A CAPITAL GRANT OF $12.8 MILLION FROM THE GOVERNMENT.

"THIS SUM WILL PROVIDE THE SEED MONEY FOR A COMPANY WHICH WILL, THROUGH THE CO-OPERATION OF THE HONG KONG POLYTECHNIC, PROVIDE THE INDUSTRY WITH THE TECHNOLOGY IT NEEDS TO MOVE UP-MARKET, HE SAID.

"

THE CENTRE WILL PROVIDE INFORMATION ON MATERIALS, PRODUCTS TRENDS AND DEVELOPMENTS IN PRODUCT TECHNOLOGY. IT WILL ALSO SERVE AS A FOCAL POINT THROUGH WHICH THE PLASTICS CONVERSION INDUSTRY CAN CONSULT WITH OTHER ORGANISATIONS AS WELL AS PROVIDING CONSULTANCY SERVICES TO THE INDUSTRY.

THE COMPANY'S SERVICES AND FACILITIES WILL BE MADE AVAILABLE TO FACTORY OPERATORS WHO BECOME MEMBERS, AND THEY WILL RECEIVE PERIODICALLY A MAGAZINE WHICH WILL PUBLICISE THE COMPANY'S SERVICES AND PROVIDE TECHNICAL INFORMATION ON NEW DEVELOPMENTS IN PLASTICS CONVERSION.

/IN ADDITION,