TEC is Awarded Contract for a Special Bisphenol Plant in Japanese-German Joint VentureDec. 18, 2002

Toyo Engineering Corporation (Tokyo, Japan, TEC, President Toshihiko Hirose) has recently received a contract from Japanese-German joint venture company Hi-Bis GmbH, which comprises Honshu Chemical Industry Co., Ltd. (Tokyo, Honshu Chemical, President Susumu Togawa),; Mitsui & Co., Ltd., and the global general chemical company Bayer AG (Leverkusen, President Werner Wenning) The contract is for the construction of a special bisphenol production plant with a production capacity of 5000 tons/year in Bitterfeld,Sachen Anhalt state, Eastern Germany.

Honshu Chemical, a company specializing in fine chemicals, developed the proprietary technology on which this project is based. The contract amount for this lump-sum project is about 30 million euros (4 billion yen), for detailed design, procurement and construction. Commencement of commercial operation is scheduled for the end of 2004. The special bisphenol produced by this plant will be used as the basis for a special polycarbonate resin used in automotive parts and high density DVDs.

TEC received this order amidst intense international bidding, thanks chiefly to its history of prior success with Honshu Chemical through R&D engineering, as well as TEC's abundant successes and demonstrated know-how of plant construction in Eastern Germany (including former East Germany), which had resulted high level of client trust and reliance.

Thanks to its rich history of success and know-how of plant construction in Eastern Germany, as well as positive results of its R&D Engineering for Honshu Chemical, TEC was able to receive this contract in spite of intense international bidding.

Ignited by this contract, TEC will further leverage strong points such as abundant regional know-how and technological expertise trusted explicitly by its clients, as well as cost-competitiveness through its Transnational structure, aiming at aggressively developing its ability to receive new contracts.

TOYO's R&D Engineering

R&D Engineering takes part in the planning of the commercialization process realization based on technology developed by the client, while taking advantage of TEC's technological expertise, experience and know-how. It results in a reduction of the time required for commercialization, as well as cost reduction through process engineering optimization and quality improvements including accident preventing and environmental protection. In the last ten years, R&D Engineering has led to 14 actual contracts, including the construction of a 3000 ton/year biphenol manufacturing plant for Honshu Chemical's Wakayama factories.

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