MOSCOW (MRC) -- Mitsui Chemicals, a leading Japanese producer of performance materials, petro and basic chemicals and functional polymeric materials, and SKC have signed a joint venture agreement to consolidate the polyurethane (PU) material businesses of both companies, reported Mitsui on its site.
Subject to completion of necessary approvals, the two companies plan to form a new equally-owned joint venture company by 1 April, 2015. The name of the new company has not been decided, but headquarters will be in Korea.
The combined PU businesses from include the production of toluene diisocyanate, diphenylmethane diisocyanate and polyols, with a total production capacity of 720,000-t/y.
We remind that, as MRC informed previously, in November 2014, Mitsui Chemicals announced that its Shanghai Sinopec Mitsui Elastomers Co. joint venture with Sinopec had launched commercial production of ethylene propylene diene terpolymer (EPT). In 2012, the two companies created the equally-owned joint venture to build a 75,000-t/y EPT plant using metallocene catalyst technology in China's Shanghai Chemical Industry Park.
Mitsui Chemicals is a leading manufacturer and supplier of value added specialty chemicals, plastics and materials for the automotive, healthcare, packaging, agricultural, building, and semiconductor and electronics markets. Mitsui Chemicals is a Japanese Chemicals company, a part of the Mitsui conglomerate. The company has a turnover of around USD15 billion and has business interests in Japan, Europe, China, Southeast Asia and the USA. The company mainly deals in performance materials, petro and basic chemicals and functional polymeric materials.
MRC