Resin maker Nuplex Industries Ltd is looking at expanding its manufacturing in India and Russia where it currently exports to.
Chief executive Emery Severin told the annual meeting on Wednesday that Nuplex is already expanding in Asia and Europe.
"We are looking at some manufacturing options in Russia as we speak. But we are yet to finalise those," he said.
He said whatever the company did in India or Russia would benefit shareholders.
Mr Severin says both the Australia and New Zealand markets are weak. Asia is the most resilient market Nuplex is operating in.
The company is on track to achieve $10 million in cost savings but the New Zealand exchange rate and flat volumes will make full-year earnings flat.
The company dropped plans to increase the directors' fee pool ahead of the meeting.
Mr Severin says Nuplex will re-visit the proposal next year.