28 February 2013 16:03 [Source: ICIS news]
TOKYO (ICIS)--Japan’s JX Nippon Mining & Metals, Toho Titanium and JNC have agreed to dissolve their polysilicon joint venture due to a decrease in demand for solar panels, the companies said late on Thursday.
The three companies plan to withdraw from Japan Solar Silicon, set up in 2008, they said in a joint statement.
No specific date for the dissolution was mentioned in the statement, however.
The market for solar panels was experiencing a decline in demand amid the European debt crisis, while supply was in excess due to the capacity expansions by the Chinese producers, the firms said.
Polysilicon is a feedstock of solar panels, according to the three companies.
JNC holds a 50% share in Japan Solar Silicon, while JX Nippon Mining & Metals and Toho Titanium hold 30% and 20% respectively.
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