Mitsui Chemicals Teijin joint venture PET Resin production

Mitsui Chemicals and Teijin joint venture for PET Resin production

12:30 PM, 9th June 2011
Mitsui Chemicals and Teijin joint venture for PET Resin production

TOKYO, JAPAN: Mitsui Chemicals Inc and Teijin Ltd announced the establishment of MCT PET Resin Co Ltd, a joint-venture company between MCI and Teijin Chemicals Ltd (Teijin Chemicals), a Teijin subsidiary that operates plastics business, to integrate their domestic PET (polyethylene-terephthalate) resin for bottles operations. The company will commence operations on April 1, 2011.

 

MCT PET Resin Co Ltd will optimize the synergistic effects of integrating PET resin operations of MCI and Teijin from supply chains to production, reinforce operational competitiveness, improve quality and cost competitiveness and enable innovative solutions to better meet customer needs and maximize overall corporate value.

 

The company headed by Makoto Miyairi as President will be started with a capital of Yen 490 million. The investment ratio of MCI will be 80 per cent while Teijin Chemicals Ltd will be 20 per cent. With a production capacity of 145,000 tons per year its sales will be approximately Yen 25 billion.

© WOC News

 

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