22 July 1999: According to a recent report, Japanese firms Ube-Nitto Kasei, Nippon Sheet Glass and Idemitsu Petrochemical plan a joint venture to make plastics embedded with glass fibres. Products fro…
22 July 1999: According to a recent report, Japanese firms Ube-Nitto Kasei, Nippon Sheet Glass and Idemitsu Petrochemical plan a joint venture to make plastics embedded with glass fibres. Products from the new company would go to make auto parts such as bumper and engine parts. The founders will each hold an equal interest in the venture, tentatively called Nippon JMT, to be established in Mie Prefecture this October. The new firm will undertake the business now being pursued by Idemitsu NSG, a joint venture of Idemitsu Petrochemical and Nippon Sheet Glass. Facing growing competition from imports as well as from other materials, glass-embedded plastic sales have fallen since 1990, the report said. Nippon JMT“s parent firms will have to slim down the joint venture“s operations, since capacity at the new venture alone outstrips demand.