九月 5, 2013 in 公司消息

WinTech Polymer Ltd: Polyplastics (60%)+ Teijin (40%)
Polyplastics and Teijin Announce Integration of Both

Companies' PBT and Teijin's GF-PET Businesses into Joint
May 23, 2000
Tokyo, May 23, 2000 -- Polyplastics Co., Ltd. and Teijin Ltd. today
announced the integration of both companies' polybutylene terephthalate
(PBT) resins and Teijin's glass fiber-reinforced polyethylene terephthalate
(GF-PET) businesses into a joint venture company to be formed in Tokyo in
June of 2000 subject to completion of review by the Japanese Fair Trade
Commission. The new company, named WinTech Polymer Ltd., will build a
PBT continuous polymerization plant with a manufacturing capacity f 50
kilotons per annum at Teijin's Matsuyama Plant in Ehime, Japan. The chief
executives of both companies signed the Joint Venture Agreement this
1. Background
PBT, a thermoplastic aromatic polyester that is one of the five
most important engineering plastics, features excellent thermal
stability under high-temperature use, good electrical
characteristics, molding stability and dimensional precision.
Widely used in components for electrical and electronic goods,
and automotive and precision parts, the domestic demand is
estimated to be approximately 80 thousand metric tons on a
compound basis and in the Asia Pacific region excluding Japan
approximately 90 thousand metric tons on the same basis.
Currently we see rapid growth in the PBT sales at around 10%
rate a year.
Nine domestic PBT manufacturers including Polyplastics and
Teijin are aggressively active in the Japanese market. In addition,
major manufacturers in North America and Europe and the Asian
newcomers are competing in this industry. Under the
circumstances, the market is in a severely competitive situation.
Polyplastics and Teijin have respectively sought for
improvements in profitability of their PBT business. They
eventually concluded that the integration of both companies'
advantages in this business would be the best way to strengthen
their international competitive edge. Since last spring, both
companies have discussed and studied a possible strategic
alliance with respect to this business.
2. Target
WinTech will be the largest PBT supplier in Japan with an
approximately 40% market share through combining the 11
billion yen of Polyplastics' PBT sales with the 6 billion yen of
Teijin's PBT sales.
Polyplastics and Teijin are aiming to establish a PBT
manufacturing and selling business core to compete with giant
overseas PBT manufacturers both in quality and cost competitive
edge. The business integration will combine both companies'
marketing abilities, the excellent continuous polyester
polymerization technology and supply of low cost monomer
(DMT) of Teijin with the compounding and application
development technologies of Polyplastics based upon its wide
experience in the engineering plastics business.
3. Scheme of Alliance
WinTech is planning to build the largest PBT continuous
polymerization plant in the Asia Pacific region based upon
Teijin's brand-new technology in the Teijin Matsuyama Plant site
to be completed at the beginning of 2002. The investment is
approximately 4.5 billion yen. The main material, DMT, is
manufactured by Teijin in the same location and will be provided
for the new continuous polymerization plant through pipelines.
As for the compounding operations, Teijin is going to sell and
transfer to WinTech its compounding facility with a capacity of
13 thousand metric tons per annum in the Teijin Iwakuni Plant
site in Yamaguchi. And Polyplastics' Fuji Plant and its Malaysian
subsidiary will undertake compounding for WinTech on a
commission basis.
In addition to the PBT business, WinTech will acquire the
GF-PET compounding and selling business of Teijin, of which
the sales amount was 1.5 billion yen. Teijin will supply PET
polymer for compounding and WinTech will compound and sell
the GF-PET products.

4. Outline of WinTech
Company Name : WinTech Polymer Ltd.
Incorporated : Scheduled in June 2000
Head Office :  2-5, Kasumigaseki 3-chome, Chiyoda-Ku, Tokyo
               Located at the Tokyo principal office of Polyplastics
               Phone: ++81 3-3593-2444
               Facsimile: ++81 3-3593-2446
Capital : 2 billion yen (Initial paid-in capital: 1.5 billion yen)
Shareholding : Polyplastics 60%
               Teijin 40%
Representatives : Mr. Toshihiko Okada, President
                 (Senior Managing Director of Polyplastics)
                  Mr. Ken-ichiro Aida, Executive Vice President
                 (Managing Executive Officer of Teijin)

Business Line : Manufacturing and selling of PBT and GF-PET resins
Major Facilities : PBT Continuous Polymerization Plant
                   Located in the Teijin Matsuyama Plant site,
                   2345, Nishi-Habu-cho, Matsuyama, Ehime
                   PBT/GF-PET Compounding Plant
                   Located in the Teijin Iwakuni Plant site,
                   2-1, Hinode-cho, Iwakuni, Yamaguchi
Start-up : January 2001
Sales targeted : 22 billion yen in the year 2002
Contact at Polyplastics:
       Shoichi Yoshikawa
       Akira Munakata
       Polyplastics Corporate Communications
       Tel.: ++81 3-3593-2444
       Fax: ++81 3-3593-2446
Contact at Teijin:
       Masaru Yoshikawa
       Yoshihito Usami
       Teijin Public Relations & Investor Relations Office
       Tel.: ++81 3-3506-4062
       Fax: ++81 3-3506-4150

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