Mitsubishi polypropylene fiber operations to be spun off
22 Aug '05
3 min read
At a meeting of the Board of Directors of Mitsubishi Rayon Co Ltd (MRC) on August 22 the decision was reached to spin off the Company's polypropylene fiber operations as a wholly-owned subsidiary.
Objectives of Spin-Off Of the various synthetic fibers, polypropylene fibers are the lightest, show the strongest resistance to degradation by the action of chemical solvents, bases and acids, as well as the greatest durability, and are also easy to recycle. Polypropylene fibers are coming increasingly under the spotlight as a means of helping retard the global warming process, as they can be produced using waste residue from oil refineries, which would otherwise be burned, giving off carbon dioxide. Moreover, the fact that these fibers are easily recyclable also indirectly contributes to the fight against global warming.
Mitsubishi Rayon began producing polypropylene fibers in 1962, and they have been applied principally in the fields of carpets and basic industrial materials. Recently, however, market needs for polypropylene fibers have become increasingly sophisticated and diverse, in addition to which the business environment has rapidly become very difficult owing to rises in the price of the raw materials (petroleum) and competition with other materials. In view of these factors, the management of MRC has decided that the most efficient and flexible way of operating the business is to spin it off as an independent company fully specializing in polypropylene fibers as a product with unique properties.
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