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Mitsui Chemical and Taiyo Oil Enter into Styrene Monomer Joint Venture

Oct 9 2003

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Japanese chemical manufacturer Mitsui Chemical and oil refiner/retailer Taiyo Oil will establish a styrene monomer joint venture company, lead by Taiyo Oil.

Under the terms of the agreement, Mitsui will assign all of their styrene monomer business to the new company, which will be known as Taiyo Petrochemical. This will take place before the start of 2004, when the joint venture is due to commence production and sale of styrene materials.

Taiyo Petrochemical will be owned 70.1% by Taiyo Oil, 9.9% by Mitsui Chemical and 20% by others and will have a production capacity of 294,000 tons per year of styrene monomers.

For more information on styrene, click here.

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