MOSCOW (MRC) -- Mitsubishi Chemical Corporation announced the expansion of polyester film production capacity at its affiliate, Mitsubishi Polyester Film in Wiesbaden, Germany, said Process-worldwide.
The group will invest approximately 110?million euros in a new production line, which is scheduled to be completed at the end of 2024. This is the third investment by MCC in the global polyester film business since 2018. It follows the opening of a new production line in South Carolina USA in 2018 and an investment in a new production line in Jakarta, Indonesia, with planned start up in 2022.
In recent years, the global market growth rate for polyester film has been about five percent, and MFE has responded to growing customer demand by procuring polyester film from other MCC Group companies while efficiently operating existing facilities.
As demand is expected to grow steadily in the future, the company plans to install this new production line at MFE with a capacity of 27,000/tonnes per year, establishing it as one of the world's largest production facilities for high performance polyester films.
The new production line, which will be equipped with energy-saving equipment, aims to reduce CO2 emissions for the entire plant, while expanding production capacity. In addition, by introducing equipment that can recycle polyester film collected from customers and consumers as raw materials, the new production line will help to accelerate MCC’s efforts to realize a circular economy.
As per MRC, earlier it was reported that Mitsubishi Chemical, a subsidiary of Mitsubishi Chemical Holdings Corporation, plans to close polymethyl methacrylate (PMMA) production in Tokuyama (Toyama, Japan) in October for scheduled repairs. This production with a capacity of 27,500 tonnes per year will be closed for maintenance for about 40 days. Last year, the company also stopped this plant for maintenance in October-November.
According to MRC's ScanPlast report, Russia's estimated PET consumption totalled 411,200 tonnes in the first six month of 2021, up by 12% year on year. Russian companies processed 62,910 tonnes in June, compared to 85,890 tonnes a month earlier.
The group manufactures polyester film at manufacturing sites in Japan, China, Indonesia, the United States and Germany for use in optical applications for displays, industrial applications such as electronic components, automotive, and medical care, and packaging material applications.