Toyota's industrial arm forms chemical JV to supply bio-based PET

10/20/2010 | ICIS News (U.K.)

Toyota Tsusho, an industrial subsidiary of Japan's Toyota Group, has reached an agreement with a Taiwanese chemical firm to create Greencol Taiwan, which will become a producer and seller of a sugar-based monoethylene glycol. The bio-based MEG will be delivered to Asian PET toll manufacturers, while off-take will be distributed to Europe, U.S. and Japan. "It is anticipated that bio-PET demand will account for 5% of this global market" at 2.25 million to 3 million tons per year, Toyota Tshusho said.

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