MOSCOW (MRC) -- Mitsubishi Polyester Film, Inc. announces an investment of USD100 million to increase its capacity for biaxially oriented polyester (BOPET) film at its plant in Greer, SC, said Convertingquarterly.
The investment will include a new film production line scheduled to start up mid-year 2017.
MPF’s investment announcement is a testament to its recognized position as a market leader in polyester film both globally and in the Americas. The company’s strategy is to deliver cost effective innovative solutions to our Valued Customers in the Industrial, Packaging and Electronics Markets. MPF has demonstrated a continued commitment to the Americas PET market by pursuing a strong investment strategy in its Greer facility. Polyester film’s growth in industrial and packaging markets continue to remain strong at 3-7% annually, and MPF is committed to enabling future growth of our Customers through expanded capacity and capability.
In addition to the production facility in South Carolina, Mitsubishi Polyester Film has manufacturing locations in Japan, China, Indonesia and Germany. Mitsubishi Plastics, Inc. is part of the Mitsubishi Chemical Holding Corporation, one of the largest chemical companies worldwide with annual revenues of approximately USD40 billion.
As MRC informed earlier, Mitsubishi Gas Chemical Co. decided to discontinue its purified terephthalic acid (PTA) business. Mitsubishi currently operates a 260,000-t/y PTA plant at Mizushima, Japan, through its Mizushima Aroma joint venture with Toyobo Co.
Mitsubishi Chemical with headquarters in Tokyo, Japan, is a diversified chemical company involved in petrochemicals, polymers, agrochemicals, speciality chemicals and pharmaceuticals. The company's main focus is on three business pillars: petrochemicals, performance and functional products, and health care.