Malaysian PET and polyester producer Hualon Corp, which was acquired by
India's Reliance Industries late last year, has been renamed Recron
(Malaysia), company sources said Monday.
The new corporate identity appeared to be in transition, as a recorded
greeting on the company's telephone switchboard continued to address the
company as Hualon on Monday. The corporate website also went under the name of
Hualon.
Hualon, or Recron, is to become a wholly owned subsidiary of Reliance. A
source said Reliance had taken control of certain areas of operations while
others were in progress.
The Malaysian company has the capacity to produce 500,000 mt/year of
polyester and blended yarns, 30,000 mt/year of nylon, 150,000 mt/year of PET
bottle grade chips and 450 million yards of fabric at Nilai and Malacca.
The company was placed in receivership in November 2006, and its assets
were offered for sale in June 2007.
India's Reliance Industries late last year, has been renamed Recron
(Malaysia), company sources said Monday.
The new corporate identity appeared to be in transition, as a recorded
greeting on the company's telephone switchboard continued to address the
company as Hualon on Monday. The corporate website also went under the name of
Hualon.
Hualon, or Recron, is to become a wholly owned subsidiary of Reliance. A
source said Reliance had taken control of certain areas of operations while
others were in progress.
The Malaysian company has the capacity to produce 500,000 mt/year of
polyester and blended yarns, 30,000 mt/year of nylon, 150,000 mt/year of PET
bottle grade chips and 450 million yards of fabric at Nilai and Malacca.
The company was placed in receivership in November 2006, and its assets
were offered for sale in June 2007.
