Toyobo to set up joint venture firms in Indonesia to produce packaging film
Aug 4, 2017
Toyobo Co., Ltd. has agreed to set up two joint venture firms with PT. Trias Sentosa, Tbk (Trias), an Indonesian flexible packaging film maker, to manufacture and sell Toyobo’s ECOSYAR®, a transparent vapor-deposited film, and polyester films for packaging in Indonesia. Toyobo and Trias held a signing ceremony on August 3.
Toyobo plans to accelerate the production and sale of transparent vapor-deposited film overseas in cooperation with Trias, which is one of the largest film makers in Southeast Asia.
The signing ceremony between Toyobo and Trias
The Japanese market for barrier films for food packaging is expanding against the backdrop of increased awareness about food safety and heightened demand for extending expiration dates. Rising global eco-consciousness as well as food shortages hitting many parts of the world have also boosted sales of barrier films worldwide. In particular, the global market of transparent vapor-deposited film is projected to increase by 10 percent per annum.
Toyobo has manufactured and sold ECOSYAR®, a high-performance barrier film, mainly in the domestic market. With the global barrier films market projected to grow, Toyobo has been studying ways to market this product overseas.
2. How the agreement with Trias was reached
Toyobo considered a business model best-suited to manufacture and sell ECOSYAR®, while searching for a prime partner to realize the business model. As a result, Toyobo has reached an accord with Trias, its long-time business partner that has operational infrastructure Toyobo requires, to set up two joint venture firms in Indonesia.
The two companies to be established are:
1) PT. TOYOBO TRIAS ECOSYAR (provisional name, TTE)
|Business operations||:||Production of transparent vapor-deposited film ECOSYAR®|
|Stakes||:||Toyobo 60%; Trias 40%|
|Start of operations||:||Scheduled for November 2019|
2) PT. TRIAS TOYOBO ASTRIA (provisional name, TTA)
|Business operations||:||Production of polyester films for packaging|
|Stakes||:||Trias 60%; Toyobo 40%|
|Start of operations||:||Scheduled for October 2019|
3. Future strategies
TTE will use Trias’ production infrastructure to manufacture ECOSYAR®, while Toyobo will sell the product in Japan and the rest of the world. Trias will sell ECOSYAR® in Indonesia.
TTA will manufacture polyester films for packaging, while providing TTE with original polyester films for ECOSYAR®. Furthermore, the company will supply these products to Toyobo and Trias.
4. Transparent vapor-deposited film ECOSYAR®
ECOSYAR® is a high-performance barrier film. The product is made by depositing two kinds of vapored ceramics, silica and alumina, to be coated on a nylon or polyester film. It has a gas barrier performance about 100 times higher than ordinary packaging films.
ECOSYAR® has the following advantages:
|1)||High gas barrier performance and moistureproof without being affected by relative humidity
The product can be used for a wide range of food and nonfood products.
|2)||Flexible, yet with high barrier performance
The use of two kinds of ceramics makes it flexible while maintaining high barrier performance.
|3)||Eco-friendly, colorless and transparent
It is eco-friendly as it contains no chlorine compounds and can make packaging films very thin, helping to reduce garbage.
5. Details of Trias
|Name||:||PT. Trias Sentosa, Tbk|
|President Director||:||Sugeng Kurniawan|
|Business operations||:||Production and sale of polyester films, vapor-deposited aluminum films, etc.|
For more information, contact
Public Relations Group, Corporate Communication Department, Toyobo Co., Ltd.
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