Tuesday, April 07, 2009

Mitsui and Sumitomo to exit polystyrene JV on deteriorating domestic demand

Japan's Mitsui Chemicals Inc and Sumitomo Chemical Co are to shutter their polystyrene joint venture on deteriorating domestic demand. The two partners plan to dissolve Japan Polystyrene Inc.- their eequally owned joint venture in manufacturing and selling polystyrene and withdraw from the business, as it seems doubtful that PS demand in Japan will pick up in the future.

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