Teijin & Showa Shell Sekiyu to launch Paraxylene sales JV

05 Feb '08

3 min read

Envisioned business
1. The joint venture will enable Teijin Fibers to spin off its paraxylene business as a separate company owned together with Showa Shell Sekiyu and Mitsubishi Corporation.
2. The JV will procure mixed xylene and produce paraxylene under commission by Teijin Fibers, and sell the product to Teijin Fibers and other companies.
3. Showa Shell Sekiyu will supply the JV with mixed xylene.
4. Teijin Fibers will purchase paraxylene as a raw material for the production of polyester within Teijin Group.
5. Showa Shell Sekiyu and Teijin Fibers will offer competitive products and services by cooperating in the supply of mixed xylene and the production and sale of paraxylene.

Outline of joint-venture company
Company name: TS Aromatics Limited
Business launch: April 1st, 2008
Address: 3-2-1 Kasumigaseki, Chiyoda-ku, Tokyo, Japan
Capital: 100 million yen
Ownership: Teijin Fibers: 50.1%, Showa Shell Sekiyu: 44.9%,
Mitsubishi Corporation: 5.0%
Representative: To be decided
Business: Manufacture of paraxylene and related products under consignment from Teijin Fibers, and sale of products to manufacturers.
Sales target: 45 billion yen in fiscal 2008

TEIJIN FIBERS LIMITED

More TEIJIN LIMITED News... More Textiles News - Japan...