06 December 2011 12:09 [Source: ICIS news]
TOKYO (ICIS)--Japanese chemical producer Kaneka Corp has entered into a joint venture agreement with ?xml:namespace>
The agreement was signed on 6 October but the three companies could not meet earlier with the head of the state to receive approval to announce the forming of the venture as October is a festival month in
The new company, Trience Specialty Chemicals, will build a CPVC plant with an initial capacity of 20,000 tonnes/year following a feasibility study, with commercial production scheduled to start in 2014, Kaneka said.
The company is considering increasing the CPVC unit’s capacity according to demand trends, and total capital investment for the facility is estimated at yen (Y) 10bn ($129m) including such future upgrading, Kaneka added.
Kaneka has a 41% stake in Trience Specialty Chemicals, while Meghmani Organics and Mitsui & Co hold 39% and 20% shares respectively, according to Kaneka.
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