28 September 2009 12:07 [Source: ICIS news]
TOKYO (ICIS news)--Japanese chemical producer Mitsubishi Chemical Co (MCC) has signed an agreement with Thailand’s PTT to jointly study the development of bio-polybutylene succinate, a bio-degradable polymer made from biomass resources, MCC said on Monday.
MCC and PTT signed a memorandum of understanding on Friday, according to MCC.
In addition to conducting the study into polybutylene succinate and its feedstock bio-succinic acid, the two companies would conduct a feasibility study until June 2010 into the establishment of a joint venture, MCC said.
No financial details were disclosed.
MCC currently produces GS Pla, its own polybutylene succinate product, which is made from petroleum-based succinic acid in ?xml:namespace>
In line with Thai government policies, PTT has been heavily involved in the development of bio-related businesses such as those focused on biofuels and bio-based polymers, according to MCC.
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