Japan's Toyobo buys stake in Chinese labeling film joint venture

PLASTICS NEWS CHINA

Published: March 22, 2013 1:52 pm ET
Updated: March 22, 2013 1:54 pm ET

Related to this story

Topics Mergers & Acquisitions Film & Sheet China
Companies & Associations

OSAKA, JAPAN — In a move to gain an advantage in China's burgeoning market for plastic bottle labeling film, Japanese company Toyobo Co. Ltd. has signed an investment contract to control 15 percent of SKC (Jiangsu) High Tech Plastics Co. Ltd. in China. The Chinese company is a joint venture with SKC Co. Ltd. (SKC), the film and chemical manufacturer of the SK Group, the third-largest conglomerate in South Korea.

Osaka-based Toyobo considers the China market for thermal shrinkage films for PET bottle labeling an especially promising one, as it boasts an annual consumption level of 120,000 tons and demand continues to rise. Currently China's thermal shrinkage film is made from PVC, but Toyobo has developed and marketed Spaceclean, its own film technology using resins made of recycled PET bottles. In 2010, Toyobo launched a new shrinking polyester film that it claims is the thinnest in the world at 20 micrometers. Toyobo hopes to develop Spaceclean for the market in China.

With the signing of the contract in mid-March, the company is now comprised of Seoul, South Korea-based SKC with 43.3 percent, SK China with 33.1 percent and Toyobo with 15 percent, with the rest held by three other companies. Including Toyobo's investment of US$8,823,530, the company has a total of US$58,823,530 in paid-up capital.


Comments

Japan's Toyobo buys stake in Chinese labeling film joint venture

PLASTICS NEWS CHINA

Published: March 22, 2013 1:52 pm ET
Updated: March 22, 2013 1:54 pm ET

Post Your Comments


Back to story


More stories

Image

Reifenhäuser acquires German spinneret company Enka Tecnica

April 17, 2015 9:31 am ET

Germany-based Reifenhäuser GmbH & Co. KG, a major manufacturer of extrusion equipment, has announced that it is acquiring Enka Tecnica GmbH, a German ...    More

Image

Spain's Grupo Antolin to buy Magna's interiors business

April 16, 2015 12:33 pm ET

Spain's Grupo Antolin has reached an agreement to purchase Canadian auto supply giant Magna International Inc.'s interiors unit in a deal valued at...    More

Image

Madison buys Ferry Industries

April 16, 2015 5:22 pm ET

Ferry Industries, the largest manufacturer of rotational molding machinery, was purchased by Madison Industries, a Chicago holding company that is...    More

Image

Caplugs gets new private equity owner

April 16, 2015 11:17 am ET

Caplugs, a major producer of caps, plugs, tubing, netting and other protective goods for industry, has a new owner.    More

Image

A. Schulman, Citadel discuss the $800 million deal

April 15, 2015 1:45 pm ET

The $800 million match of materials maker A. Schulman Inc. and Citadel Plastics felt good from the start. “Everything in our first meetings show...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events