(fibre2fashion) -- Teijin Limited announced a partnership with the China Chemical Fibers Association (CCFA) to pursue business opportunities in the fields of chemical fibers and related industries in China. This is the first time for the CCFA to enter into a comprehensive alliance with a foreign private business.
Teijin has already reached an agreement to set up a closed-loop system for recycling polyester with Zhejiang Jiabao New Fiber Group Co., Ltd., which is based in Shaoxing, Zhejiang province and is a group company of Jinggong Holding Group, a prominent company involved with environmental management.
The system will be created by leveraging Teijin's leading-edge proprietary chemical recycling technology and business expertise cultivated through the global expansion of its Eco Circle closed-loop recycling system.
China is a high-priority market in the Teijin group's medium- to long-term growth plan. The group aims to expand business in China through strategic alliances with local partners, expansion of production and R&D bases and development of environment-related businesses.
MRC