Myriant Sojitz form partnership green chemicals

Myriant and Sojitz form partnership for green chemicals

3:31 AM, 9th November 2011
Myriant and Sojitz form partnership for green chemicals
Stephen Gatto, Chairman and CEO, Myriant.

 

QUINCY, US: Myriant Corporation and Japanese Sojitz Corporation have signed an agreement for the creation of a sales and marketing partnership to distribute biobased succinic acid in Japan, China, South Korea and Taiwan.

Sojitz and Myriant will collaborate in the region for applications such as plasticizers, polymers, urethanes and solvents. The agreement combines the strength of Myriant’s biobased succinic acid manufacturing platform with Sojitz’s strong market presence. Sojitz, a US$50 billion company, has a strong presence in chemical sales and marketing and distribution throughout Asia with over 25 sales offices.

“This is another significant example of Myriant’s ability to capitalize on global markets where we have demonstrated a clear leadership. The combination of Sojitz’s sales and marketing as well as their intent to expand our production capacity were the twin catalysts for this agreement,” said Stephen Gatto, Chairman and CEO, Myriant.

“Our plan is to set up a commercial biobased derivatives plant that we expect to come online in 2015, which will consume 150 million pounds of Myriant’s biobased succinic acid,” said Izutani, GM, Functional Materials and Fine Chemicals, Sojitz.

“By establishing our partnership with Myriant, Sojitz is enhancing its presence in the green chemicals industry in Asia. By gaining access to Myriant’s biobased succinic acid, Sojitz will be in a position to grow its business of green chemical derivatives,” added Izutani.

(C) WOC News

 

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