Japan's Teijin plans polyester recycling joint venture in China

09 August 2012 08:11  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Teijin has signed an agreement with Chinese firm Jinggong Holding Group to establish a chemical recycling joint venture in Shaoxing, Zheijang province in China, in September 2012, Teijin said in a statement on Thursday.

Teijin will have a 49% share in the joint venture, named Zhejiang Jiaren New Materials, while Jinggong Holding Group will hold 51%, according to the statement.

Through the new company, Teijin will chemically recycle polyester as well as manufacture and sell the resulting fibres using its own technology, the statement said.

The joint venture plans to build facilities for the initial production of 20,000 tonnes/year of dimethyl terephthalate (DMT), polymerisation and fibre spinning with a total cost of about yen (Y) 6bn ($79.5m), Teijin said.

The production capacity of recycled polyester fibre will be 19,000 tonnes/year in the initial phase, the firm added.

The facilities are expected to come on stream by the end of March 2014, according to Teijin.

($1 = Y78.48)

By: Tomomi Yokomura
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly