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

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

Metals and plastics company NN to buy Autocam in $300 million deal

July 25, 2014 10:07 am ET

A Tennessee metals and plastics company said it has agreed to acquire auto parts supplier Autocam Corp. in a deal valued at $300 million.    More

Image

Chinese auto suppliers growing in US

July 24, 2014 4:17 pm ET

Two China-based automotive suppliers are expanding in the U.S., according to information released by the Michigan Economic Development Corp.    More

Image

Bemis' product strategy paying off with record earnings per share

July 24, 2014 2:56 pm ET

Bemis Co. Inc. is feeling good about itself these days as the flexible packaging and pressure sensitive materials firm is posting record earnings per ...    More

Meredian merging with Danimer Scientific

July 24, 2014 1:59 pm ET

Bioplastics maker Meredian Inc. is merging with its sister firm, Danimer Scientific LLC.    More

Image

Injection molder, recycler Polyvulc USA puts itself up for sale

July 24, 2014 12:41 pm ET

Fred Farrell and Larry Lambiotte, founders of Polyvulc USA Inc. and its subsidiaries Polyvulc Tire Recycling Llc and Winnsboro Rubber Recycling LLC, a...    More

Market Reports

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events