Toyobo to set up polyester resin firm in Thailand

OSAKA (Kyodo) -- Toyobo Co., an industrial material maker, said Monday it will establish a firm jointly with the major trading house Mitsubishi Corp. in Thailand in July to produce and sell polyester resin, a raw material for paint, ink and industrial-use adhesives.
The new company, owned 85 percent by Toyobo and 15 percent by Mitsubishi, plans to set up a factory and start operating it in January 2014 to chiefly supply Chinese companies, it said.
(Mainichi Japan)