10 August 2009 13:13 [Source: ICIS news]
(Updates, adding detail throughout)
The venture will make methyl methacrylate (MMA) and polymethylmethacrylate (PMMA) in ?xml:namespace>
The venture’s PMMA facility will have a design capacity of 30,000 tonnes/year, SABIC said.
SABIC will supply ethylene and methanol as raw materials for the joint venture.
The venture partners said they would explore possibilities to produce “other products” indentified under their letter of intent.
MMA and acrylic resin are widely used to produce automobile parts, optical screens and home appliances among other goods.
PMMA is used in construction and transport and to make liquid crystal display screens. It is also used in light emitting diode (LED) technology.
MRC completed its $1.6bn acquisition of UK-headquartered Lucite at the end of May.
Lucite was initially formed in 1993 from an amalgamation of the acrylics businesses of ICI and DuPont and was later majority-owned by Charterhouse Capital Partners.
($1 = €0.70)
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