Tokyo - Mitsui Chemicals and Teijin have established MCT PET Resin Co. as a new joint venture to integrate their Japanese production of polyethylene terephthalate (PET) resin for bot-tles.
Scheduled to begin operations on 1 Apr. 2011, MCT PET will combine the PET production, marketing, sales and related technologies of the two companies to optimize the synergistic effects "from supply chains to production."
Teijin earlier said the new venture will continue to pro-duce PET at Mitsui's 145,000-t/y Waki plan, while production of PET will be discontinued at Teijin's Tokuyama site.
MCT PET, to be owned 80% by Mitsui and 20% by Teijin, will be headed by Makoto Miyairi as president.
