DuPont, Teijin. in Films Venture.

Chemical Market Reporter, February, 1999

E. I. DU PONT DE NEMOURS & Co. and Teijin Ltd. have agreed to form a 50-50 joint venture to produce and sell polyethylene terephthalate (PET) and polyethylene napthalate (PEN) polyester film. DuPont will receive cash reflecting the difference in the values of the respective businesses. With an annual production of 300,000 tons per year, the venture expects to have sales of roughly $1.4 billion.

Teijin's sales operations will be incorporated into the joint venture upon its formation. However, Teijin will continue its Japanese manufacturing and technical development operations until 2001, after which all Teijin operations will be included in the joint venture.