Sumitomo, Zeon form solution styrene butadiene rubber JV

Sumitomo, Zeon to form solution styrene butadiene rubber JV

4:45 AM, 8th August 2016
Sumitomo, Zeon to form solution styrene butadiene rubber JV

TOKYO, JAPAN: Sumitomo Chemical Company and Zeon Corporation have reached a basic agreement to begin a study on possible consolidation of the two companies' Solution Styrene Butadiene Rubber (S-SBR) businesses.

Sumitomo Chemical and Zeon Corporation will look into forming a new joint venture company for the S-SBR business and transferring their current relevant operations, including those of their respective subsidiaries, to the new company, with the aim of strengthening the S-SBR business through such concerted efforts as accelerating new product development, enhancing cost competitiveness and securing stable supply of product.

The current schedule of the new company's formation is as follows:

Completing due diligence and studies on the envisaged business consolidation

  • by end September, 2016
  • signing of definitive agreements end December, 2016
  • forming the new company April, 2017

The two companies will discuss and agree on particulars relating to the S-SBR business consolidation and the new company to be incorporated. Legally-binding definitive agreements will be inked after each company going through their internal authorization procedures.

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