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
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