Germany’s BASF and Japan’s Toray Industries Inc announced today that they have formed a 50-50 joint venture for the production of polybutylene terephthalate (PBT) base resin for the Asian market.
The newly formed company, Toray BASF PBT Resin Sdn Bhd, will build a PBT plant with an annual capacity of 60,000 metric tons at BASF’s Verbund site in Kuantan, Malaysia.
The total investment for the plant is said to be approximately $40 million. The PBT base resin produced at the plant will be independently marketed by each company under their own trade names.
Construction will start in June 2004 and the new plant is scheduled to come on stream at the beginning of 2006.