Mitsubishi Plastics, Inc. (head office: Chiyoda-ku, Tokyo; President: Takumi Ubagai) announces that it held a ceremony for the completion of construction of plant on the grounds of Mitsubishi Polyester Film Suzhou Co., Ltd. (head office: Suzhou, Jiangsu Province, China; Chairman: Tsuyoshi Nagata; hereinafter referred to as "MPFS") on the date noted above. MPFS is the Company's subsidiary for sale and manufacture of optical polyester film. The new plant will make China the fifth country of Mitsubishi Plastics polyester film business, alongside Japan (Shiga Prefecture), the United States, Germany, and Indonesia.

  The demand for polyester film for optical use continues to grow worldwide along with the rise in the volume of sales for flat panel display (FPD) TV sets, especially in newly emerging economies, and the increase in the resolution and size of display screens. In particular, China, where many manufacturers of liquid crystal panels have sited new plants, is anticipated to become the world's largest demand center (market) for such film. As the world's leading manufacturer of optical polyester film, the Company founded MPFS in June 2011 and began building the plant, for the purpose of establishing a setup for production and supply of this product in China, which is expected to form a new market. Upon completion of the plant construction, a ceremony to commemorate it was held at the site on the above-indicated date. The plant will have a production capacity of about 22,500 tons of film per year. The polyester film produced at the plant will be used as prism sheet and diffusion film for liquid crystal display backlight units.

  With a view to building a solid position for itself as the world's leading manufacturer in the field of polyester film, the Company is determined to get its Chinese subsidiary MPFS on track at an early date. It is also going to pursue studies for further investment while carefully watching factors such as the trend of production and sales as well as the course of demand in China.

 

Photo: External view of the plant

Photo: Ceremony commemorating completion of the construction

 

＜Outline of MPFS＞
Company name:  Mitsubishi Polyester Film Suzhou Co., Ltd.
Address:  99 Songshan Road, Gaoxin District, Suzhou, Jiangsu Province, China
Representatives: Tsuyoshi Nagata, Chairman; Hiroyuki Shiwa, Chief Executive Officer
Date of establishment: June 9, 2011
Paid-in capital: 8.4 billion yen
Shareholder: Gaoxin PETFILM Co., Ltd. (100% ownership)*
* This is a holding company which was established for the purpose of founding MPFS. For more information, see the press release dated November 8, 2010.

 

For further information please contact:
Public Relations and Investor Relations office,
Mitsubishi Chemical Holdings Corporation.
TEL: +81-3-6748-7140