Mitsui and Teijin Establish PET Joint Venture

Mitsui Chemicals and Teijin say they have established MCT PET Resin (Tokyo), a previously announced joint-venture company between Mitsui and Teijin’s Teijin Chemicals subsidiary, to integrate their polyethylene terephthalate (PET) bottle-grade resin businesses in Japan. The jv company will begin operations on April 1, 2011. Mitsui and Teijin first announced their plans to merge their PET bottle-grade resin businesses in August 2010. With this move, the companies aim to cut costs and compete more effectively with cheap imports from other Asian countries...

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