MITSUI / UBE
Merger will form Japan's No 2 PP producer
The second-largest Japanese producer of polypropylene will be set up by a proposed merger of interests between Mitsui Petrochemical and Ube Industries, giving a combine of over 400 000 t/y capacity, just behind the 445,000 t of Mitsubishi Chemical. The 50/50 joint venture, as yet unnamed, is targeting sales of Yen 60bn (US$670m) in its first year of operation and looking for cost-savings of some Yen 5 bn ($50m). Other mergers are also expected in the Japanese PP industry, where national capacity of 2.5m t/y is at present divided between 15 producers. Showa Denko (with 280,000 t/y capacity) is reported to be planning to link up with Nippon Petrochemicals.
31.07.1995 Plasteurope.com [20633]
Published on 31.07.1995