DuPont And Teijin To Unite Polyester Film Technologies

DuPont and Teijin Ltd. have signed a letter of intent to form a global joint venture to produce and sell polyethylene terephthalate (PET) and polyethylene naphthalate (PEN) polyester film. The letter of intent provides for the unrestricted flow of technology between the two companies and a single face in the worldwide market, recognizing and responding to regional market requirements.

The new venture, which will unite DuPont's strengths in the U.S., Europe and China with Teijin's strengths in Japan and Asia Pacific, features combined sales of $1.4 billion and a production capacity of over 300,000 tons per year.

DuPont and Teijin have an existing joint venture in the production of magnetic media films. "Its success, coupled with complementary capabilities, goals and shared values led to our decision to be global partners," said Francine Cheeseman Shaw, vice president and general manager of Dupont Polyester Films. The existing Teijin DuPont Films Ltd. joint venture has operations in Circleville, OH, and Contern, Luxembourg.

Under the letter of intent, Teijin's sales operations will be incorporated into the joint venture upon its formation. The Company's Japanese manufacturing and technical development operations will operate independently until 2001. During the interim, these operations will be used exclusively to serve the joint venture. Thereafter, all Teijin operations—two plants in Japan, a new plant in Indonesia and the Teijin DuPont Films joint venture in the U.S. and Luxembourg—will be included in the joint venture.

The joint venture will bring together the following brand names: Melinex and Mylar polyester films; Kaladex PEN films; Cronar polyester photographic base film (DuPont); Teijin; Tetoron PET polyester film; and Teonex PEN polyester film (Teijin).

For more information, call 1-800-441-7515.