Asahi Kasei and Teijin to Dissolve PTT Fibers Joint Venture

Asahi Kasei Fibers (AKF), an Asahi Kasei subsidiary, and Teijin Fibers, a subsidiary of Teijin, say that they will dissolve their Solotex (Osaka) joint venture for polytrimethylene terephthalate (PTT) fibers, by the end of March 2010 due to poor profitability. Solotex was established in 2002 as a 50-50 jv combining the PTT fibers operations of AKF and Teijin Fibers. Following the dissolution of Solotex, AKF will exit the PTT fibers business, while Teijin Fibers is studying the possibility of an independent PTT fibers business. “With declines in feedstock...

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