- Joint Venture Company for Domestic PET Resin for Bottles -
Tokyo, Japan, March 1, 2011 --- Mitsui Chemicals, Inc. (hereinafter called "MCI") and Teijin Limited (hereinafter called "Teijin") announced the establishment of MCT PET Resin Co., Ltd., a joint-venture company between MCI and Teijin Chemicals Limited (hereinafter called "Teijin Chemicals"), a Teijin subsidiary that operates plastics business, to integrate their domestic PET (polyethylene-terephthalate) resin for bottles operations. The company will commence operations on April 1, 2011.

MCT PET Resin Co., Ltd. will optimize the synergistic effects of integrating PET resin operations of MCI and Teijin from supply chains to production, reinforce operational competitiveness, improve quality and cost competitiveness and enable innovative solutions to better meet customer needs and maximize overall corporate value.

Outline of Joint Venture Company

Category - Details
Company Name MCT PET Resin Co., Ltd.
President Makoto Miyairi
Business Production, sales, domestic R&D and technical support of PET resin for bottles
Address Shiodome City Center, 1-5-2 Higashi Shimbashi, Minato-ku, Tokyo
Capital 490 million yen
Investment Ratio MCI 80% and Teijin Chemicals Limited (wholly-owned subsidiary of Teijin Limited) 20%
Production Capacity 145,000 tons per year (subcontracted to MCI Iwakuni-Ohtake Works)
Sales Approximately 25 billion yen (total figure for FY2009)
Employees 8 persons
Commercial Operation Scheduled for April 1, 2011