NEW YORK - Hoechst AG announced a name change for its polyester and related businesses during an Aug. 21 news conference in New York. Its fibers division businesses, including polyester resins and films, are now under the Trevira name.
Trevira businesses had sales of about $6.6 billion in 1995.
The company said expansion in Asia is one of its goals, and identified PET packaging resins as one business Trevira will focus on.
Officials said Hoechst will continue to expand its Trevira PET packaging resins operations to meet double-digit growth rates for the next decade. They conceded the industry has overcapacity that probably will continue into next year.
Trevira plans to triple global PET resin capacity to about 3.1 billion pounds per year by 2000. Trevira's polyester film business is growing 5 percent annually and had sales of $370 million in the first half of this year.