Celanese and Teijin form Asia acetate filament joint venture

14 July 2000 11:04  [Source: ICIS news]

LONDON (CNI)--German chemicals company Celanese announced on Friday that it will form a new acetate filament joint venture with Japan's Teijin.

The joint venture combines the two companies' Asian businesses, which encompass both marketing and manufacturing. It will produce acetate filament at Teijin's Matsuyama, Japan, site, with Celanese supplying the raw material, acetate flake, and additional acetate filament.

Claudio Sonder, Celanese's chairman and chief executive, said: "Celanese is excited to join forces with a strong partner like Teijin. "We see this jv as an excellent way to strengthen our position in the very critical Asian textile market."

The Matsuyama plant currently manufactures polyester, acetate filament and acetate flakes. Teijin spokesman Masaru Yoshikawa told CNI that Teijin will close its acetate flake operations at Matsuyama.

"When the new company is formed this raw material will come from Celanese in the US," he said.

The Matsuyama plant has 100 employees and a 12 000 tonne/year acetate filament capacity. Teijin currently holds a 7% share of the global market for acetate filament.

Celanese and Teijin will manage equally the new venture, which is due to start operating in the first quarter of 2001. The name of the company and other details will also be finalised then, when Teijin and Celanese complete a definitive agreement.

Celanese Acetate Textiles is the world's largest manufacturer of cellulose acetate filaments, which has applications in clothing, furnishings and industrial end uses. The company launched a restructuring programme for its acetic acid and acetate businesses in December 1999. This led to consolidation of its acetate filament operations in Narros, Virginia, US; Ocotlan, Mexico; and Lanaken, Belgium. Celanese is also phasing out acetate filament production at its plant in Rock Hill, South Carolina, US and plans to cut acetate filter production.

By: Helen Carmichael
+44 208 652 3214

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