Japan’s MCC, JSR to dissolve Techno Polymer jv

25 November 2008 11:06  [Source: ICIS news]

TOKYO (ICIS news)--Japanese chemical producers Mitsubishi Chemical (MCC) and JSR have agreed to dissolve their Techno Polymer joint venture, the firms said in a joint statement on Tuesday.

According to the statement, MCC decided to withdraw from its ABS resin business to concentrate on other operations, while JSR decided to run Techno Polymer under its own portfolio in order to improve its corporate value.

JSR would acquire MCC’s 40% share in Techno Polymer, an acrylonitrile butadiene styrene (ABS) resin maker, by 31 March 2009 and make it a wholly owned subsidiary, the companies said.

JSR currently holds a 60% stake in the venture.

The companies did not disclose any financial details.

Techno Polymer was established in July 1996. Its reported current net sales are yen (Y) 53.6bn ($553m).

($1 = Y96.92)

For more on ABS visit ICIS chemical intelligence
For more on MCC and JSR visit ICIS company intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: Tomomi Yokomura
+65 6780 4359

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly