B.C. Industry Shows Double-Edge Effect of Low Dollar, Report Shows

British Columbia’s plastics industry is comprised of approximately 323 companies, most of who have fewer than 50 employees and annual revenues under $1 million, according to a report released by the Canadian Plastics Industry Association. The report, a detailed analysis of the region’s industry, confirms that while plastics is a growth industry in the province, accounting for almost $400 million in exports last year, it is also dogged by low levels of investment in new product development and technology, a result that in part can be explained by the Canadian dollar and its relatively low purchasing power. It was also found that many companies have difficulty accessing venture capital for growth.

Despite a generally depressed business climate, nearly 50 percent of the respondents said they planned to add a new technology or process to their production capabilities, while about 60 percent said they plan to modify or improve productivity. Many of the responding companies say they are looking to merge, partner or acquire under the right conditions. The majority of the province’s plastics industry is located in the three cities of Richmond, Surrey and Langley. The survey results along with a profile of the plastics industry in B.C. can be found at:

http://www.cse.gov.bc.ca/IndustryProfiles/Plastics/Default.htm