Founded as a joint venture in Thailand with Mitsubishi Corporation (MC) (Headquarters: Chiyoda-ku, Tokyo; President and CEO, Ken Kobayashi), TOYOBO CHEMICALS (Thailand) will begin full-scale operation at its manufacturing plant for copolyester resin VYLON® in January 2014.
Prior to going into full operation, TOYOBO CHEMICALS (Thailand) held an opening ceremony for the plant on December 19, 2013.
Thus far, Toyobo has manufactured copolyester resin VYLON® in Japan and has sold this product to users within Japan and overseas. In recent years, however, Japanese as well as European and U.S. companies have begun local production in China and the countries of ASEAN, India, and elsewhere in the Asian region. In addition, the number of locally based companies newly entering the market is increasing.
In view of the circumstances, to expand sales of VYLON® into the electronics-related markets, Toyobo and MC have established a marketing and manufacturing joint venture in Thailand, which offers a well-developed infrastructure and convenient distribution capabilities. TOYOBO CHEMICALS (Thailand) is now making final preparations for the commencement of full-scale production of VYLON® in Thailand.
VYLON® is the copolyester resin that is used as a material in the production of paints, inks, industrial adhesives, and other products. It finds application in a wide range of products and is indispensable as an industrial material.
Principal applications include adhesives, coating materials, metal can coating, wire coatings, film surface modifiers, and conductive silver paste.
Looking ahead, Toyobo will make TOYOBO CHEMICALS (Thailand) a base for its functional plastics business in China, ASEAN countries, and India and has set an annual sales target of ¥5.0 billion in 2016 for the joint venture.