Teijin Limited is partnering with the China Chemical Fibers Association (CCFA) to pursue business opportunities in the fields of chemical fibers and related industries in China. This is the first time for the CCFA to enter into a comprehensive alliance with a foreign private business.
Under the basic agreement, collaborations between Teijin group companies and major Chinese companies introduced by the CCFA will pursue various opportunities to:
- enhance Chinese fiber products with added value, differentiation and greater production efficiency;
- develop high-performance fibers and related applications;
- nurture unique businesses;
- develop green solutions for greater sustainability, and
- establish a closed-loop recycling system.
Teijin has already reached an agreement to set up a closed-loop system for recycling polyester with Zhejiang Jiabao New Fiber Group Co. Ltd.. The system will be created by leveraging Teijin’s proprietary chemical recycling technology and business expertise of its Eco Circle closed-loop recycling system.
China is a high-priority market in the Teijin group’s medium- to long-term growth plan. The group aims to expand business in China through strategic alliances with local partners, expansion of production and R&D bases and development of environment-related businesses.
“As we celebrate the 40th anniversary of normalized diplomatic ties between Japan and China, we are particularly pleased to pursue mutual growth opportunities with the CCFA and its member companies,” said Shigeo Ohyagi, president and CEO of Teijin Limited. “We hope to apply our technologies and expertise toward solutions for energy savings and environmental preservation in the chemical fiber industry, a strategic industry in China’s 12th five-year plan.”
While China produces more than 60 percent of the world’s chemical fibers, fuel and raw material prices have been rising and demands for low-carbon operations and resource conservation have been strengthening. The CCFA is promoting high-performance, energy savings and waste reduction in the chemical fiber industry under China’s plan through 2015.
“The collaboration between the CCFA and Teijin is a bold new initiative between the Chinese and Japanese chemical fiber industries, which have a long history of complementing each otherâ€™s strengths,” said Duan Xiaoping, chairman of the CCFA. “I hope this strategic undertaking…will serve as a model for CCFA collaborations with other progressive global companies.”
The China Chemical Fibers Association covers China’s entire fiber industry. It is a non-profit organization established in 1993 and is made up of about 400 members from related businesses, universities and research institutions.
Currently, 12 major Teijin Group companies have bases in mainland China, employing about 2,000 people in businesses including aramid, carbon and polyester fibers, films, plastics and medical/pharmaceuticals, as well as the trading and marketing of fiber products. Teijin is a global technology-driven group operating in eight main fields: aramid fibers, carbon fibers and composites, polyester fibers, plastics, films, medical and pharmaceuticals, fiber products marketing and IT businesses.