Mitsubishi A Schulman end Sunprene JV in North America

Mitsubishi and A Schulman end Sunprene JV in North America

3:51 AM, 9th November 2011
Mitsubishi and A Schulman end Sunprene JV in North America

TOKYO, JAPAN: Mitsubishi Chemical Corporation (MCC) announced that MCC and A Shulman Inc (ASI) have agreed to dissolve and liquidate their joint venture – The Sunprene Company (Sunprene), which is engaged in vinyl chloride compound business in North America and to transfer the JV’s business to the MCC Group.

Sunprene was established in 1988 with a joint investment by MCC’s wholly-owned subsidiary, MKV America Inc and ASI’s wholly-owned subsidiary, ASI Investments Holding. Since then, it has supplied vinyl chloride compounds to industrial customers in North America, mainly in the automotive sector, using MCC’s vinyl chloride compound technology and ASI’s marketing capabilities. However, due to a change in ASI’s business strategy which has made Sunprene non-strategic to ASI, ASI proposed to dissolve the joint venture. As a result of discussions, the two parties have decided to dissolve and liquidate Sunprene at the end of December 2011. With the dissolution of Sunprene, MKV America will be liquidated, as well.

For MCC, North America is a leading auto industry market and the vinyl chloride compound business holds considerable growth potential. MCC therefore has decided to take over the business of Sunprene, which will be transferred to MCC’s subsidiary, Mitsubishi Chemical Performance Polymers Inc.

The dissolution of Sunprene and transfer of its business will enable the MCC Group to offer total solutions in the performance polymer market in North America, while setting the stage for further growth in the performance polymer business.

(C) WOC News

 

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