MCT PET Resin to Commence Operations
- Joint Venture Company for Domestic PET Resin for Bottles -
March 1, 2011
Mitsui Chemicals,Inc.
Teijin Limited
Mitsui Chemicals, Inc. (hereinafter called "MCI") and Teijin Limited (hereinafter called "Teijin") announced the establishment of MCT PET Resin Co., Ltd., a joint-venture company between MCI and Teijin Chemicals Limited (hereinafter called "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.
Outline of Joint Venture Company
| Category | Details |
|---|---|
| Company Name | MCT PET Resin Co., Ltd. |
| President | Makoto Miyairi |
| Business | Production, sales, domestic R&D and technical support of PET resin for bottles |
| Address | Shiodome City Center, 1-5-2 Higashi Shimbashi, Minato-ku, Tokyo |
| Capital | 490 million yen |
| Investment Ratio | MCI 80% and Teijin Chemicals Limited (wholly-owned subsidiary of Teijin Limited) 20% |
| Production Capacity | 145,000 tons per year (subcontracted to MCI Iwakuni-Ohtake Works) |
| Sales | Approximately 25 billion yen (total figure for FY2009) |
| Employees | 8 persons |
| Commercial Operation | Scheduled for April 1, 2011 |
