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Japanese Companies to Produce Acrylic Fibers in China
Four large Japanese companies have recently reached an agreement with a Chinese counterpart to jointly produce acrylic fibers in Ningbo, a coastal city in east China's Zhejiang Province.
The four Japanese companies are Mitsubishi Corporation, Mitsubishi Rayon Co., Ltd., Marubeni Corporation, and C.Itoh & Co., Ltd.
According to the agreement, Ningbo Investment Co., Ltd., the joint venture will be built in the Ningbo Development Zone costing 120 million U.S. dollars.
The joint venture is scheduled to be operational by 2003, with a final annual production capacity of 10 tons of acrylic fibers.
Marubeni and Itoh have opened several plants in Ningbo in the past few years.
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