September 2, 2016 Updated 9/2/2016
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Japan’s Polyplastics Co. Ltd. is buying out Teijin Ltd.’s share of their joint venture, WinTech Polymer Ltd., which makes glass-fiber reinforced PET and polybutylene terephthalate.
The Aug. 29 announcement said Tokyo-based Polyplastics will purchase Teijin’s 40 percent stake in WinTech, effective Sept. 30, making WinTech a wholly owned subsidiary of Polyplastics.
Polyplastics said it wants to enhance its presence in the PBT and glass-fiber PET markets.
WinTech, based in Tokyo, formed in 2000 when Polyplastics combined its PBT business unit with Teijin’s PET and PBT unit.
According to the Polyplastics website, the joint venture has a manufacturing plant in Matsuyama, Japan with a capacity of 110 million pounds per year.
