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

Arburg inks training pact with Taiwan's Ming Chi University

October 31, 2014 2:24 pm ET

German injection molding press maker Arburg GmbH + Co. KG announced this week that it has inked a cooperative deal with Taiwan's Ming Chi University...    More

Image

Hong Kong injection molding equipment maker enters US market

October 31, 2014 1:39 pm ET

Hong Kong-based L.K. Technology Holdings Ltd. is entering the North American plastics processing market with a line of its eXcel injection molding...    More

Image

Italian compounder opening first US plant

October 30, 2014 9:45 am ET

The song of the South has led Italian compounder So.F.Ter Group to open its first plant in the United States in Lebanon, Tenn.    More

Image

Xten may shut down, working on sale to Commercial Plastics

October 29, 2014 5:49 pm ET

Xten Industries LLC is working on a sale to Commercial Plastics Co. of Mundelein, Ill. Xten, an injection molder based in Kenosha, Wis., filed a...    More

Image

Shale development lagging in China

October 29, 2014 1:28 pm ET

Shale gas and its impact on China was the hot topic at the FlexPO conference, held Oct. 22-24 in Shanghai.    More

Market Reports

Pipe, Profile & Tubing Extrusion Market Trends

This report provides in-depth analysis of current trends, statistics and innovations in product design and production impacting the PP&T industry in North America.

Learn more

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

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

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

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

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events