Mitsui & Co. has withdrawn from a chemical production and marketing JV with Vulcan Materials Co. in the United States, selling its 49% stake for several billion yen. This venture started in 2000, at an investment outlay of US$200mln to produce and sell chemicals including ethylene dichloride, a feedstock for making PVC. Annual production is 270,000 tons of ethylene dichloride, 210,000 tons of caustic soda and almost 210,000 tons of chlorine.
But Vulcan Materials decided to sell its chemicals business, including this joint venture to Occidental Chemical Corp, a unit of Occidental Petroleum Corp. Vulcan bought out Mitsui's stake and will pass it to Occidental.
27-Jun-05 
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