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Mitsubishi Rayon and Daicel to Form Acetate Tow JV

1:53 AM MDT | October 11, 2011 | Deepti Ramesh

Mitsubishi Rayon says it has entered into a non-binding letter of intent with Daicel Corp. (Osaka, Japan) for establishing a joint venture to manufacture acetate tow for cigarette filters. Mitsubishi Rayon will spin off its acetate tow manufacturing business operated at its production site at Toyama City, Japan into a new company and transfer part of the ownership of the new company to Daicel. Mitsubishi Rayon will have 65% stake in the new jv company and Daicel will hold the remaining 35%. Daicel will supply the raw material, cellulose acetate flakes, for the...

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