Issue Date: July 13, 2009
Asahi And Teijin Dissolve Venture
Asahi Kasei and Teijin Fibers plan to dissolve their Solotex polytrimethylene terephthalate (PTT) joint venture by March 2010. The companies formed the venture in 2002 to pool their existing operations in PTT fibers. High costs and low volumes did in the venture, which had annual sales of about $10 million in its most recent fiscal year. Teijin says it may still pursue a PTT business on its own. Earlier this year, PTT Poly Canada, a PTT joint venture between Shell Chemical and Société Générale de Financement du Québec, shut its doors.
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