Saturday March 19, 2011
Scientex enters solar energy via JV with Japan firm
By TEE LIN SAY
linsay@thestar.com.my
KUALA LUMPUR: Industrial packaging manufacturer Scientex Bhd
is moving into the solar energy sector via a 50:50 joint venture with Mitsui Chemicals Tohcello Inc (MCTI).
The new joint venture company will manufacture and distribute encapsulating sheets for solar cells. The company's facility will
be located at the Bukit Rambai Industrial Estate in Malacca.
The first phase of production, targeted to begin in August 2012,
will be 10,000 tonnes a year.
MCTI currently has a 20% share of the world market, producing
some 40,000 tonnes a year. It is targeting to achieve 30% market share by 2013, once the Malacca plant is set up.
“Our target now is to be the future market leader in the solar
ethylene-vinyl acetate (EVA) industry,” Scientex managing director P.J. Lim said.
MCTI will provide the technical expertise and raw materials for
EVA for the encapsulating sheets, while Scientex will provide
the site for the manufacturing plant, labour, marketing and customer synergies.
The encapsulating sheets will cater to the South-East Asian markets, particularly Malaysia and Singapore. It will also be exported to Europe.
Tokyo-based MCTI is a wholly owned subsidiary of Mitsui Chemicals Inc, one of the world's top three producers of EVA encapsulating materials for solar films.
The JV company will have a paid-up capital of RM45mil. Scientex will finance its investment of RM22.5mil in the company with internal funds.
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