Japanese major Mitsubishi Chemical Corp. and China's leading petrochem Company Sinopec (China Petroleum & Chemical Corp.) will step up co-operation on areas including securing raw material supply, product development, joint research programs, employee exchange arrangements, production and marketing in China. The pact will allow the Japanese conglomerate to procure low-priced steady raw material supply to extend its footprint in China. On the other hand, Sinopec will benefit by extending its focus on high value-addition products by acquiring Mitsubishi Chemical's technical know-how to produce high performance materials for automotive and electronics industry. The Asian majors already are tied up in number of joint ventures and technical agreements. The two companies are reportedly on verge of setting new joint company for production of BPA and polycarbonate.
15-Apr-09 
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