Markets :: Plastics :: PET
Toyobo takes stake in Chinese polyester film production joint venture
8:07 AM MDT | March 19, 2013 | Natasha Alperowicz
Toyobo (Osaka) says it is investing $8.8 million in SKC (Jiangsu) High Tech Plastics Co. (Nantong, China), a joint venture set up in August 2011 to produce polyester film. The investment gives Toyobo a 15% stake in the venture in which the existing shareholders, SKC (Seoul) and SK China, will own 43.3% and 33.1% respectively. The remaining shares are held by three other companies. SKC (Jiangsu) is building two polyester film lines at Nantong, which are scheduled to begin production sequentially from May 2013. Toyobo says it decided to invest in...
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