Mitsui Chemicals, Teijin merge domestic PET operations

08/12/2010

Tough competition coupled with stagnant demand growth is changing the face of the polyethylene terephthalate (PET) supply chain. With Japan's PET processors increasingly able to source PET from other Asian countries, and demand growth no longer as high as it once was, the two suppliers announced a basic agreement to form a joint venture that will integrate their domestic PET operations.

The new JV has not yet been named but will be run out of Mitsui's headquarters in Tokyo. Mitsui Chemicals Inc. (MCI) has various PET-related operations, including the production of purified terephthalic acid (PTA), while Teijin produces paraxylene (PX), a raw material used in the production of PTA, as well as produces bottle-grade PET for distribution by Teijin Chemicals Ltd....
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