Tosoh, Mitsubishi to up Philippine venture's chemical output

Asian Economic News, June 12, 2000

TOKYO, June 7 Kyodo

Tosoh Corp. and Mitsubishi Corp. said Wednesday they will have a Philippines-based joint venture boost its output capacity for polyvinyl chloride-based resins in view of a prospective resurgence in demand.

The two firms and local Philippine concerns with capital stakes in the venture, Philippines Resins Industries Inc., will jointly bolster its output capacity to 160,000 tons a year from the current 70,000 tons, the two companies said.

The business allies will add production facilities at a cost of 4 billion yen with the program calling for completing the new facilities in 2002, the two said.

They said the plan has been devised in view of the country's economic recovery, which is expected to boost demand for polyvinyl chloride pipes and insulating covers for electric cables -- two materials often used in infrastructure-related construction projects.