07 November 2011 07:43 [Source: ICIS news]
TOKYO (ICIS)--Japanese chemical producer Mitsubishi Chemical plans to dissolve its US polyvinyl chloride (PVC) joint venture The Sunprene Company and run the business through another subsidiary, the company said in a statement on Monday.
The Sunprene Co is a 30:70 joint venture between MKV America and A. Schulman Inc.
MKV is a wholly subsidiary of Mitsubishi Chemical.
Mitsubishi Chemical and A. Schulman had decided to dissolve the Ohio-based The Sunprene Co at the end of December 2011 upon A. Schulman's request, as part of A. Schulman's rearranging of its business strategies, Mitsubishi Chemical said.
Mitsubishi Chemical will liquidate MKV at the same time, it said.
After the dissolution of The Sunprene Co, Mitsubishi Chemical will run the PVC business in the US through South Carolina-based Mitsubishi Chemical Performance Polymers. Mitsubishi Chemical expects The Sunprene Co’s PVC compounding business to grow further in North America’s automotive industry, it said.
For more on Mitsubishi Chemical and other producers, visit ICIS company intelligence
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections