Japanese Industrial Firm to Make, Sell Water Pipes in China

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Last updated at: (Beijing Time) Monday, June 17, 2002

Japanese Industrial Firm to Make, Sell Water Pipes in China

Japanese major industrial firm Sekisui Chemical Co. will set up a manufacturing and sales company of water pipes in Qingdao, east China's Shandong Province, in mid- July with a local company.

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Japanese major industrial firm Sekisui Chemical Co. will set up a manufacturing and sales company of water pipes in Qingdao, east China's Shandong Province, in mid- July with a local company.

According to Kyodo News, the joint venture has been agreed on with Qingdao Construction Group Corp., the largest construction firm in the city, where demand for construction materials has been rising sharply amid strong economic growth.

The joint company, to be named Sekisui Qingdao Plastic Co., will be capitalized at 780 million yen (about 6.05 million U.S. dollars) of which Sekisui will put up 25 percent and Qingdao Construction's group firm will fund 75 percent.

The new company is expected to begin production of high-quality water pipes and materials made of polyvinyl chloride from next March.

The company will have an annual production capacity of about 5, 400 tons of the products. It is expected to post 1.5 million yen in sales for fiscal 2005.

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