MOSCOW (MRC) -- Mitsubishi Plastics, Inc. announces that its wholly-owned subsidiary, Mitsubishi Polyester Film, Inc. (Greer, South Carolina), will build a new facility to increase its production capacity for polyester film product (product name: HOSTAPHAN) to meet the growing demand in the United States, said the company on its site.
The company will invest about USD100 million for the new facility and is scheduled to be completed in mid-2017.
The polyester film market for industrial and packaging material applications has been expanding at 3%-7% in the US, and steady growth is expected to continue. The company has been supporting customers’ growth through efficient utilization of existing production facility. The decision to build the new facility was made to enable future growth of our customers through expanded capability and capacity.
As MRC informed earlier, Mitsubishi Chemical is in plans to shut its No.1 purified terephthalic acid (PTA) plant for a maintenance turnaround on December 1, 2015 and will remain shut for a period of around 15 days. Currently, the plant is operating at full production capacity rates.
Mitsubishi Chemical Holdings Corporation manufactures and sells industrial materials, healthcare products, and performance products in Japan and internationally. The company operates in Electronics Applications, Designed Materials, Health Care, Chemicals, Polymers, and Others segments. The Electronics Applications segment offers optical recording media, organic photo conductors/chemical toners, display materials, imaging supplies, and white LED lighting and materials. Mitsubishi Polyester Film has five manufacturing locations in Japan, China, Indonesia, the United States, and Germany.
MRC