China: The Consumer Fabrics Division of Fiberweb plc and the Fibers and Fabrics Division of Chisso Corporation of Japan announced the successful completion of their joint feasibility study in respect of a potential investment in a jointly-owned spunbond nonwovens manufacturing operation in China.
These two leading nonwovens companies first announced the joint feasibility study in December 2009, and extensive market and technical work since then has confirmed the attractiveness of the market for the cutting-edge products that the latest generation spunbond manufacturing technology can produce. The venture will focus on serving producers of disposable hygiene and personal care products, and will benefit from the long-standing and close relationships both partners enjoy with leading customers in this rapidly-developing market.
Both Fiberweb and Chisso Corporation consider the personal hygiene market in China and in other Asian markets to be of strategic importance in the future development of their nonwoven businesses. The next phase of this exciting project will be to finalize the JV structure and financing over the coming months.