Idemitsu and Mitsui polyolefin JV gets approval

14-Feb-05
Mitsui Chemicals and Idemitsu Kosan have got approval for a new polyolefin venture Prime Polymer. The JV, to be owned 65% by Mitsui and 35% by Idemitsu, had been announced in May but had been waiting for approval by the Japan Fair Trade Commission. Total capacity of Prime Polmer will exceed 2 million metric tpa. Polypropylene will comprise almost 60% of the volume to be produced at four plants. This will translate into a 45% market share for Prime, ensuring that the company will be Japan’s largest producer of polypropylene. Other units will comprise two small linear low-density polyethylene (LDPE) plants with annual capacity of 60,000 and 70,000 metric tons. Separately, Sumitomo Chemical and Tosoh Corp. say they will dissolve their linear low-density polyethylene (LLDPE) joint venture through Sumitomo’s acquisition of Tosoh’s 25% share in the venture. The venture, Chiba Polyethylene, operates a 100,000-metric-ton plant in Chiba that Sumitomo wants to equip with a new gas-phase technology. Tosoh will continue to produce linear low-density polyethylene in Yokkaichi.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha