MOSCOW (MRC) -- Asahi Kasei Corp. and its subsidiary Asahi Kasei Chemicals Corp., and Mitsubishi Chemical Holdings Corp. and its subsidiary Mitsubishi Chemical Corp. have concluded an agreement to establish an equally held joint venture for the operation of a unified naphtha cracker in Mizushima, based on the agreement announced in a press release dated February 25, 2014, said both companies in their press release.
The naphtha crackers that Asahi Kasei Chemicals and Mitsubishi Chemical have in Mizushima are currently operated by Nishi Nippon Ethylene LLP. After the start-up of the joint venture on April 1, 2016, Nishi Nippon Ethylene LLP will perform the removal and disposal of equipment as required due to unification of the naphtha crackers.
As MRC informed earlier, Asahi Kasei Chemicals finalized a decision to establish a subsidiary for plastic compounds1 in Mexico, through its US subsidiary Asahi Kasei Plastics North America, Inc.
Asahi Kasei Corporation is a global Japanese chemical company. Its main products are chemicals and materials science.
Mitsubishi Chemical with headquarters in Tokyo, Japan, is a diversified chemical company involved in petrochemicals, polymers, agrochemicals, speciality chemicals and pharmaceuticals. The company's main focus is on three business pillars: petrochemicals, performance and functional products, and health care.
MRC