Singapore - February 23, 2005
Leading specialty chemicals and plastics company, Kureha Chemical
Industry Co., Ltd ("Kureha"), today announced the launch
of a study in Singapore to examine the feasibility of constructing
a new production facility to manufacture super engineering plastics,
polyphenylene sulphide ("PPS") resin.
PPS is a key super engineering plastics product with a diverse range
of high-tech applications in the electrical, electronics, automobile
and industrial products industries. Together with its US joint venture,
Fortron Industries, Kureha is the largest producer of PPS resin in
the world.
Kureha is looking at Singapore as a potential location for this new
plant because it believes that Singapore offers a conducive business
environment, and a world-class infrastructure coupled with a well-educated
workforce. Together with its extensive expertise and know-how related
to the construction of state-of-the-art, high-tech production facilities,
Singapore also possesses a number of the key feedstock materials to
produce PPS, making it an attractive potential location for the new
plant.
Kureha's President and Chief Executive Officer, Hiroshi Tanaka, stated,
"Given the huge growth potential for PPS resin, we expect there
to be a global shortage within two to three years. A new dedicated
plant, together with our additional production coming on stream in
Japan, will enable us to meet the burgeoning level of demand. It will
also enable us to maintain our position as the leading supplier of
PPS resin in the world."
Kureha recently announced an aggressive new mid term plan, which maps
out its new growth strategy as a specialty products company, focusing
on high value-added, highly differentiated niche products, while utilizing
the company's strong in-house R&D capabilities. The company is
targeting group sales of JPY180 billion in fiscal 2008, compared with
JPY135 billion in fiscal 2003.
For further information,
please contact:
Kureha Chemical Industry Co., Ltd.
Yoshiki Furuya
furuya@kureha.co.jp
Tel. 03-3249-4651 |
Gavin Anderson & Company
Deborah Hayden or Minako Hattori
dhayden@gajapan.co.jp or
mhattori@gajapan.co.jp
Tel. 03-5404-0640 |
Notes to Editors
About Kureha Chemical Industry
Co., Ltd.
Kureha Chemical Industry Co., Ltd. is a major chemicals and plastics
company listed on the Tokyo and Osaka Stock exchanges (TSE code 4023).
The company was established in 1944 as a manufacturer of caustic soda,
chlorine-based chemicals, and fertilizers.
Utilizing its strong in-house R&D technologies, it has since developed
into a leading manufacturer of advanced materials, (such as polyphenylene
sulphide [PPS] resin), specialty chemicals (pharmaceuticals and agrochemicals),
and specialty plastics (food packaging materials and household goods).
The company also undertakes construction and maintenance operations
associated with each of its major businesses, as well as providing
transport, environmental management and other services.
Kureha's range of in-house developed “household-name”products
includes food wrapping film, “Krewrap”and fluorocarbon
fishing line, “Seaguar.”
The company's main factory is located in Nishiki, Fukushima Prefecture,
in Japan. Kureha's international activities include production facilities
in China and The Netherlands, and, through a joint venture, the United
States. More information may be found at http://www.kureha.co.jp/ |
