23 October 1995 00:00 [Source: ACN]
DUPONT has signed a letter of intent with Japan's Teijin Limited to establish a 50:50 joint venture to market meta-aramid fibre products in China, Macau, and Hong Kong.
The joint venture will be the two companies' third combined effort in the meta-aramid field following the establishment of paper joint ventures in Japan and Hong Kong last year.
The new company, with headquarters in Hong Kong and a representative office in Shanghai, will market and sell meta-aramid staple fibres, staple fibre blends and downstream value-added products.
These include garments and industrial textile end-use items produced and/or sourced by DuPont and Teijin.
The possibility of manufacturing meta-aramid staple fibres and downstream value-added products in China will be considered when the market growth warrants the need. The joint venture could start operations in Q1 1996.
'We believe that the new partnership with Teijin will result in more rapid growth and development of the meta-aramid fibre market in China,' said Walter Fields, DuPont's Nomex global business director.
He said there was a growing need for thermal protection products in the China/Hong Kong region. The partnership with Teijin will allow the new company to leverage their technologies and commercial experience to meet the needs of the Chinese market.
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