TOKYO (Oct. 13, 5 p.m. ET) — Japanese resin giant Teijin Kasei Co. Ltd., which claims the largest share in Asia's polycarbonate resin market, has formed a strategic cooperation agreement with two Chinese processors, aiming to quickly grow film and sheet business in China.
Under the agreement, Teijin will provide Mianyang Longhua Film Co. Ltd. and Suzhou Omay Optical Material Co. Ltd. with specially formulated Panlite PC resin as well as production technology. Longhua and Omay will in return manufacture and market Panlite-branded PC sheet and film products in China, Teijin said in an Oct. 12 news release.
Longhua will make insulating film that is used to coat the power supply part of LCD TVs. Omay will produce sheet for automotive dashboards.
Teijin aims to leverage the partnership to quickly establish competitive Panlite PC sheet production and sales operations in China, with a sales target of 20,000 to 30,000 metric tons per year.
China's annual demand for PC sheet is estimated to be in the range of 150,000-170,000 metric tons, with a 10 percent annual growth rate fueled by the electronics and auto sectors.
Teijin produces Panlite resin in Japan, China and Singapore. It has been relying on its sheet production facility in Matsuyama, Japan, to supply the global market.