WinTech Polymer Will Become Wholly Owned Polyplastics Subsidiary Next Month
Polyplastics Co., Ltd.
Polyplastics Co., Ltd. has reached agreement with Teijin Limited for a move under which WinTech Polymer Ltd. will acquire all Win Tech Polymer shares currently owned by Teijin, effective this September 30.
Pursuant to this stock acquisition, WinTech Polymer will become a wholly owned subsidiary of Polyplastics, while carrying on all of its existing business operations in their current status.
As a core pillar of the push to further enhance its corporate portfolio, Polyplastics will be utilizing this move to commit even greater energies and resources to its PBT and GF-PET businesses, thereby gearing up to more fully meet the expectations and needs of the market, customers and its other precious stakeholders.
WinTech Polymer Ltd. (Head Office: Minato Ward, Tokyo)
WinTech Polymer Ltd. is a producer of thermoplastic polyester resin. The company was originally formed through the merger of the PBT resin business division of Polyplastics Co., Ltd. and the PBT resin and PET resin business arms of Teijin Limited.
Established: July 31, 2000 Capital: ¥2 billion
Shareholders: Polyplastics Co., Ltd (60% equity holdings) and Teijin Limited (40% holdings)
Representative: Ryuichi Sekita, President & CEO
Purpose of business activities: Production and sales of PTB and GF-PET resins.
* Note: WinTech consigns its product sales to the Polyplastics Group.