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TORAY INDUSTRIES AND BIMO S.P.A. HAVE AGREED
TO JOIN FORCES IN THE DEVELOPMENT OF HIGH BARRIER METALLIZED OPP
FILMS FOR SALE INTO THE WORLDWIDE PACKAGING MARKET
North Kingstown, Rhode Island - December 8, 2000 - Toray Industries,
Inc. (Tokyo, Japan) and Bimo S.P.A., (Atessa, Italy) have concluded
an OEM and a Joint Development agreement for the manufacture and
sale of high barrier metallized OPP film (biaxially-oriented polypropylene
film). The agreement covers the manufacture of Toray's proprietary
metallized products for sale into major food companies in Europe
as well as the joint development of next generation metallized
barrier products utilizing a revolutionary new orientation process
owned by Bimo. The OEM and Joint Development agreements were signed
in September, 2000.
.......... Toray Plastics (America),
Inc., (North Kingstown, RI), a wholly owned subsidiary of Toray
Industries, currently has a 68% market share in metallized film
used in the North American flexible packaging market. Responding
to requests by the company's largest customers, Toray has recognized
the need to expand global sales of its high barrier films into
Europe. Bimo offers Toray an Italian based manufacturing site
from which to produce high quality films to compete in this area.
Under the terms of the OEM agreement, Toray will provide technical
support to Bimo for the production of Toray specification products,
and will supply OEM produced products to its customers in Europe.
.......... In addition to providing
a European manufacturing site, Bimo also brings to the partnership
a significant investment in developing the latest state of the
art film making process, SOL (Simultaneous Orientation Line).
Both companies believe this process will allow for the development
of significantly improved metallized OPP films which will offer
enhanced barrier, improved durability, greater dimensional stability,
higher yields and superior productivity. The scope of this program
may be enhanced to include other new revolutionary film technologies.
.......... Based upon the agreement
between Toray and Bimo, Toray will have access to Bimo films for
sales of selected Bimo films into the Japanese and North American
markets. Toray is today operating the OPP films business under
the TorayfanN brand name with operations in Tsuchiura, Japan (1500
tons/month capacity) and in North Kingstown, Rhode Island (3100
tons/month capacity). With the addition of the Bimo OEM in Europe
(4100 tons/month), Toray now has a global presence in Japan, the
USA and Europe.
Toray Plastics (America), Inc. is a leading manufacturer of polyester
and polypropylene films for magnetic, industrial and capacitor
applications as well as flexible and rigid packaging. The company
is a subsidiary of Toray Industries, Inc., the world leader in
synthetic fibers and textiles, carbon fibers, plastics, chemicals,
pharmaceuticals and high performance films, with annual sales
of $10 billion.
For more information contact
| Toray Plastics (America), Inc.,
|
|
50 Belver Avenue, North Kingstown,
RI 02852-2596. |
| Phone: |
(401) 294-4511. |
| Fax: |
(401) 294-1480. |
| BIMO S.P.A. |
|
Head Office: |
Atessa (Chieti) - c.da Saletti-Z.I. (central
Italy) |
|
President: |
Dr. Massimo Francalanci |
|
Capital: |
21 billion lire |
|
Business: |
Manufacture and sales of OPP films |
|
Capacity: |
4100 tons/month |
January/25/2001
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