MELAKA FIRM ENTERS SOLAR ENERGY WITH JAPANESE FIRMMarch 20, 2011
The new joint venture company will manufacture and distribute encapsulating sheets for solar cells. The company’s facility will be located at the Bukit Rambai Industrial Estate in Malacca. The first phase of production, targeted to begin in August 2012, will be 10,000 tonnes a year.
MCTI currently has a 20% share of the world market, producing some 40,000 tonnes a year. It is targeting to achieve 30% market share by 2013, once the Malacca plant is set up.
“Our target now is to be the future market leader in the solar ethylene-vinyl acetate (EVA) industry,” Scientex managing director P.J. Lim said.
MCTI will provide the technical expertise and raw materials for EVA for the encapsulating sheets, while Scientex will provide the site for the manufacturing plant, labour, marketing and customer synergies.
The encapsulating sheets will cater to the South-East Asian markets, particularly Malaysia and Singapore. It will also be exported to Europe.
Tokyo-based MCTI is a wholly owned subsidiary of Mitsui Chemicals Inc, one of the world’s top three producers of EVA encapsulating materials for solar films.
The JV company will have a paid-up capital of RM45mil. Scientex will finance its investment of RM22.5mil in the company with internal funds.
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