With effect from 30 September, Polyplastics (Tokyo / Japan; www.polyplastics.com), the joint venture between Daicel (Osaka / Japan; www.daicel.com) and Celanese (Dallas, Texas / USA; www.celanese.com), has agreed to acquire all shares of WinTech Polymer (Tokyo; www.wintechpolymer.co.jp/en) currently owned by its joint venture partner Teijin (Tokyo; www.teijin.com) The deal will make WinTech a wholly owned subsidiary of Polyplastics, while leaving its existing business structure unchanged.

The acquisition of the Japanese polyester specialist will allow Polyplastics to devote “even greater energies and resources” to its PBT and GF-PET businesses, the company said. WinTech was established in July 2000 through the merger of the PBT resin business of Polyplastics and the PBT resin and PET resin businesses of Teijin, with the first company holding the 60% majority stake.

In a similar move, Teijin recently announced plans to buy out the stakes held by DuPont (Wilmington, Delaware / USA; www.dupont.com) in the Japan- and Indonesia-based BOPET joint ventures Teijin DuPont Films Japan and Teijin DuPont Films – see Plasteurope.com of 23.08.2016. The jvs in other countries will remain intact. The companies cited increased Chinese competition in the polyester market.