09 January 2013 08:48 [Source: ICIS news]
SINGAPORE (ICIS)--Japan’s Showa Denko has acquired a 50% stake in fullerene products maker and marketer Frontier Carbon Corp (FCC) from Mitsubishi Corp for an undisclosed fee, the companies said on Wednesday.
FCC will now operate as a 50:50 joint venture between from Mitsubishi Corp and Showa Denko, they said in a joint statement.
Fullerene is a molecule composed entirely of carbon.
It is seen as a promising material in the field of electronics, particularly for such applications as organic photovoltaic cells, according to the joint statement.
Showa Denko and FCC will jointly undertake research and development (R&D) as well as marketing activities towards the commercialisation of fullerene products, the firms said.
“Showa Denko’s tie-up with Mitsubishi Corp in the fullerene business is expected to further expand its carbon nano materials business,” they added.
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