Mitsubishi Polyester Film (Americas) has announced plans for a capital investment that will convert one of the existing PET film lines into the production of PET shrink films, widely used in the food packaging industry.
"The traditional markets for bi-axially oriented PET films have grown increasingly competitive," says Bill Radlein, vice president of sales at Mitsubishi Polyester Film, LLC. "Therefore, we have sought opportunities to expand our product line to provide value-added products to our customers in the packaging and industrial markets."
According to the company, statistics show the shrink film market has increased as much as 15 per cent a year over the past few years. And, the use of PET and other shrink films is expected to continue to grow rapidly as companies continue to move toward containers with elaborate design and high-quality graphics.
"Our investment will provide capability for the rapidly growing PET shrink film business at the same time that it effectively removes capacity from the over-supplied traditional PET film business," says Radlein.
The conversion will be completed by the fourth quarter of 2002.