Japanese film and textiles giant Toyobo Co. Ltd. plans to build an engineering resin compounding plant in Americana, Brazil.
The plant will allow Toyobo to follow its customers in the Japanese auto market, who are building their own plants in Brazil, officials with the Osaka-based firm said in an Aug. 8 news release.
The new compounding plant will be part of an existing Toyobo site in Americana. The plant represents an investment of just over $10 million and will have annual production capacity of about 11 million pounds. It is scheduled to open in August 2014.
The plant will include a lab and will make compounds based on nylon, polyester and other engineering resins. It also will produce compounds on a contract basis.
Toyobo posted sales of just over $3.4 billion in the year ended March 31. The firm was founded in 1882 and employs almost 11,000 worldwide.
Earlier this year, Toyobo paid almost $9 million for a 15 percent stake in PET bottle label maker SKC High Tech Plastics Co. Ltd. of Jiangsu, China.