TOKYO - Mitsui Chemicals is to sell its 100% ownership of Mitsui Chemicals Nonwovens (Tianjin) Co to Nanhai Beautiful Nonwoven Co.
"This share transfer will see the Mitsui Chemicals Group concentrate its resources on two bases in Japan and Thailand," Mitsui Chemicals said in a statement. "In doing so, the group will look to further bolster its presence in the sanitary nonwovens markets of Japan and the ASEAN region."
Nanhai Beautiful Nonwoven Co operates sixteen high-speed spunbond and spunmelt production lines, and one 7-meter SXMS Bicomponent nonwoven production line. Its manufactures nonwoven fabrics from 100% virgin polypropylene chips for hygiene, medical, and industrial applications with an annual capacity of more than 100,000 metric tons.
Financial details of the transfer were not disclosed.
