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Asahi Kasei and Bluestar plan joint venture for mPPE business in China

February 16/2017

MOSCOW (MRC) -- Asahi Kasei has concluded a joint venture agreement with China National Bluestar (Group) Co., Ltd. (Bluestar), a subsidiary of China National Chemical Corp. (ChemChina), for the integrated production and sale of Xyron modified polyphenylene ether (mPPE) in China, including its intermediate materials 2,6-xylenol and polyphenylene ether (PPE), said the company on its site.

A final investment decision is conditional upon receipt of antitrust clearance, procedures to establish the joint venture, and detailed evaluation of the economics of the joint business.

Under its "Cs for Tomorrow 2018" medium-term management initiative, Asahi Kasei is advancing a strategic global expansion of its engineering plastics business in the Material sector centered on automotive applications. Xyron mPPE, in particular, is expected to enjoy strong demand growth in China in environmental and energy applications including electric vehicle battery modules and solar panel components. Currently, Asahi Kasei manufactures intermediate materials for mPPE in Singapore, and its global production capacity for Xyron is 62,000 tons per year.

The joint venture with Bluestar will enable Asahi Kasei to expand its business for mPPE in the strategically important Chinese market.

Bluestar, Chinas only manufacturer of 2,6-xylenol and PPE, sought to expand capacity to meet growing demand and to enter the mPPE business. The joint venture to manufacture and sell 2,6-xylenol, PPE, and mPPE will leverage Bluestars technology for 2,6-xylenol and PPE together with Asahi Kaseis mPPE compounding technology and applications development capability to facilitate further expansion in the growing Chinese market.

Asahi Kasei Corporation is a global Japanese chemical company. Its main products are chemicals and materials science. 


mrcplast.com
Author:Anna Larionova
Tags:PP, PS, PE, styrene, Asahi Kasei, Japan.
Category:General News
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