Japan's Teijin to sell acetic anhydride plant to Daicel
14 February 2002 08:27 [Source: ICIS news]
SINGAPORE (CNI)—Synthetic fibres, chemicals and pharmaceuticals producer Teijin will by 1 April this year sell its 20 000 tonne/year acetic anhydride plant in Matsuyama, Japan, to Daicel Chemicals for an undisclosed sum, a company source told CNI on Thursday.
Daicel is seeking to strengthen its acetic acid derivatives business. It operates a 36 000 tonne/year acetic acid plant in Ohtake, Japan. Its affiliate Kyodo Sakusan operates a 420 000 tonne/year plant in Hyogo prefecture in Japan.
Teijin, on the other hand, plans to withdraw from the acetate business.
Teijin had last year dissolved its acetate film joint venture with Celanese. It will by March this year scrap its 12 000 tonne/year acetate filament plant in Matsuyama and build by October 2003 at the same site, a synthetic films plant for use in the production of semi-conductors and other high technology products.
Teijin has decided to cease production of acetate filament because the product has been substituted the world over by polyester filament. This has cut the ground from under the feet of acetate filament producers, who increasingly find that polyester filament is being preferred over acetate filament to produce taffeta which is used to make coat linings among other things.
By: Iqbal Anand
+65 6780 4359
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