Kuraray Co., Ltd. plans to establish a joint venture for "Clarino", microfiber man-made leather in a tie-up with a man-made leather marketing company in Zhejiang, China. Capitalized at US$10.50 million, this new company is 66.6% funded by a local company and 33.4% by Kuraray. Investments will amount to approximately 1.6 billion yen. Operations are scheduled from next spring. The annual production capacity is 4 million sq. meters.
With an integrated production system from basecloth, Kuraray expects to increase business in accordance with the development of markets for sport shoes and interior goods in China.
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