1. Press releases
Local SME Invests in Innovation to Build New Capabilities and Seize Growth Opportunities
15 July 2014
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Local SME Invests in Innovation to Build New Capabilities and Seize Growth Opportunities
1. To stay globally competitive, SMEs need to continuously innovate, reinvent their business strategies and invest in new capabilities to seize growth opportunities. Minister of State for Trade and Industry Teo Ser Luck visited Matex International Limited today to learn more about their innovative projects and plans for the future.
2. Matex is a home-grown chemical company that produces dyes for the textile industry. The company spends some 10% of its revenue on Research & Development (R&D) each year. Through in-house R&D, Matex developed the Megapro™ System, an eco-friendly and highly productive dyeing product and system for use in garments. It uses up to 25% less water and takes only two-thirds of the time required compared to traditional dyes and processes. The company has successfully differentiated its products to add value for their global customers as well as the industry. Some of its key customers in Malaysia, Indonesia, Pakistan, Bangladesh and China have also adopted the Megapro™ System.
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Local SME invests in innovation to build new capabilities and seize growth opportunities
MINISTRY OF TRADE & INDUSTRY AND SPRING SINGAPORE
15 JULY 2014