My colleague Clay Boswell has been sending me news from Toyota Tsusho for the past several days now about the company planning to setup an integrated bio-based polyethylene terephthalate (PET) supply chain using bioethanol as feedstock source.
First of all, I recalled Toyota Tsusho as one of Braskem's bio-PE marketing partners focused specifically for the Asian market so I guess that solves some of the upstream supply chain puzzle. Based in Nagoya City, Japan, Toyota Tsusho is a trading company setup by the Toyota Group.
On October 7, Toyota Tsusho announced their formation of a 50-50 joint venture deal with Taiwan-based chemical company China Man-made Fiber Corp. (CMFC) to establish Greencol Taiwan Corp. (GTC), which will produce and sell monoethylene glycol (MEG) using sugar-based ethanol as feedstock.
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