Expansion in the Asian market for PET packaging resins is an important strategic goal of Trevira, the new catch-all name for the Hoechst group's (HQ: D-65926 Frankfurt) USD 6.6 bn worldwide polyester activities, which include resins and films, fibres and intermediates. Speaking at an international press conference in New York, Trevira's chief manager William B. Harris said the recently announced 50: 50 technical polyester joint venture with India's Reliance Industries Ltd, which in 1998 will begin manufacturing industrial yarns for reinforcement applications, could be extended to encompass PET packaging resins. He added that Trevira is an "attractive partner" for Asian companies needing technology because of its "continuing investments in polyester research and development."

According to Harris, PET Resins and Intermediates (17% of Trevira sales), is Hoechst's "fastest growing business unit" with turnover of USD 560m in H11996. The group claims to be number two in PET globally, with "number one not far away." Although Harris believes PET's current "temporary slump" will wash over into 1997, due to worldwide overcapacity, he forecasts "double-digit growth for the next decade." Despite the market's softness, he said the group "will not curtail" plans announced in 1995 to triple its PET resins business to 1.4m t/y by the year 2000 and to build one world-scale production line each year into the next century (PIE No 24, 1996). Hoechst anticipates 5% annual growth for its polyester films business (11% of sales), mainly from industrial, magnetic film and packaging applications. The Diafoil joint ventures with Mitsubishi Chemical in May announced plans to spend USD 300m on expanding output to 80,000 t/y by the year 2002 (see Plasteurope.com No 10).

READER SERVICE: Trevira news release and press conference speech by William B. Harris: PIE-No. 39794.