Dow, Mitsui form joint venture biopolymers production in Brazil

Dow, Mitsui form joint venture for biopolymers production in Brazil

12:51 PM, 20th July 2011
Dow, Mitsui form joint venture for biopolymers production in Brazil
Andrew N Liveris, Chairman and CEO, Dow.

 

MIDLAND, US: The Dow Chemical Company and Mitsui & Co Ltd formed a new joint venture to provide innovative and sustainable product solutions to the global high-performance flexible packaging, hygiene and medical markets.

The first phase of the project includes the construction of a new sugarcane-to-ethanol production facility in Santa Vitória. Construction is expected to commence in the third quarter of 2011. The transaction is expected to close before the end of 2011, after obtaining regulatory approvals. Financial details of the deal were not disclosed.

As per the agreement, Mitsui would become a 50 per cent equity interest partner in Dow’s sugar cane growing operation in Santa Vitória, Minas Gerais, Brazil. The initial scope of the joint venture includes production of sugar cane-derived ethanol for use as a renewable feedstock source, bringing new, biomass-based feedstocks to Dow while diversifying the company’s raw material streams from traditional fossil fuels. When complete, Dow and Mitsui will have the world’s largest integrated facility for the production of biopolymers made from renewable, sugar-cane derived ethanol.

“This landmark move combines the strengths of two global companies, creating the unique combination of world-leading technology and renewable feedstocks to meet needs in an important, rapidly growing region of the world. This is right on strategy for Dow and supports our 2015 sustainability goals,” said Andrew N Liveris, Chairman and CEO, Dow.

“We are proud to strengthen and grow our already-strong partnership with Dow. This venture advances Mitsui’s goal to contribute to industry and society by securing a stable supply of renewable resources and providing sustainable solutions from those resources,” said Masami Iijima, President and CEO, Mitsui.

© WOC News

 

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