DuPont of the US and Japan's Teijin Ltd issued a joint statement on 14 July announcing a plan to build seven joint ventures worldwide for the manufacture of polyester film.
The two companies had signed a letter of intent in February 1999 to form joint ventures in this business. The ventures will be created in Japan, the US, UK, Netherlands, Luxembourg, Indonesia, and China.
Details of the ventures:
- Teijin DuPont Films Japan Ltd, in Tokyo, capitalised at 10.01 billion, owned 50.1 per cent by Teijin and 49.9 per cent by DuPont
- DuPont Teijin Films US Limited Partnership, in Wilmington, Delaware, capitalised at $467 million, owned 49.9 per cent each by Teijin Film Inc, ad Teijin subsidiary, and DuPont.
- Dupont Teijin Films UK Ltd, in Scotland, capitalised at $90 million, owned 50 per cent each by Teijin subsidiary Teijin Holdings UK plc, and DuPont's UK unit.
- DuPont Teijin Films Luxembourg SA, in Luxembourg, capitalised at $46 million, owned 50 per cent each by Teijin Holdings UJ plc and DuPont's Luxembourg unit.
- DuPont Teijin Films Netherlands BV, capitalised at $7.5 million, owned 50 per cent each by Teijin Holdings UK plc, and DuPont's Dutch unit.
- PT Indonesia Teijin DuPont Films, Jakarta, capitalised at $35 million, owned 50.1 per cent by Teijin and 49.9 per cent by DuPont.
- DuPont Teijin Films China Ltd, in Hong Kong, capitalised at $3 million, owned 49 per cent by Teijin and 51 per cent by DuPont.