Teijin Forming Polyester Recycling JV; Plans DMT Unit with Chinese Partner

摘要

Shaoxins— Teijin Ltd. and Jinggong Holding Group will in September establish Zhejiang Jiaren New Materials Co. as a Chinese joint venture to chemically recycle polyester, as well as produce and sell the resulting fibers. The venture, to be owned 49% by Teijin and 51% by Jinggong, aims to create a closed-loop recycling system in Shaoxing, Zhejiang Province, China, using Teijin's proprietary chemical recycling technology and expertise gained from its existing closed-loon recvcline svstem for Dolvester.