Fuwei Films Co., a
manufacturer and distributor of high-quality biaxially-oriented polyethyelene
terephthalate (BOPET) films in China, announced that its wholly-owned
subsidiary, Fuwei Films Co., Ltd., signed a letter of intent on June 30, 2011.to
supply copolyester (PETG) heat shrinkable label film for the second half of
this year with China Bottlers Procurement Consortium (CBPC), the authorized
procurement service provider for the Coca-Cola Bottling system in China.
Beverage
leader Coca-Cola plans to take the lead in replacing PVC non-carbonated
beverages labels with PETG films in China starting in the second half of this
year in order to be environmentally-friendly.
PETG is an
improved BOPET material, which is widely used in the international label
industry due to its environmentally friendly nature. Shandong Fuwei developed
its propriety PETG heat shrinkable label films through years of independent
R&D.
The patent
application for this product filed by Shandong Fuwei has been accepted.
According to the letter of intent, Shandong Fuwei, as the exclusive local
supplier of Coca-Cola in China,
will supply PETG heat shrinkable label films to designated label suppliers
within the Coca-Cola bottling system.
Once the
letter of intent is fully implemented, it is estimated that the sales of heat
shrinkable label films to be supplied to Coca-Cola may account for 8 to10% of
Fuwei's total sales in the second half of 2011.
"We are
pleased to sign this letter of intent with the authorized procurement service
provider of Coca-Cola," says Mr. Xiaoan He, Chairman and CEO of Fuwei
Films. "We look forward to further cooperation with Coca-Cola and other
internationally renowned beverage companies."
