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Teijin, Showa Shell Form Para-Xylene JV in Japan

9:53 AM MST | February 19, 2008 | Chemical Week Editorial Staff

Teijin Fibers (Tokyo) and Showa Shell Sekiyu (Tokyo) have agreed to establish a joint venture to produce and sell para-xylene and related products. The jv will be launched April 1 and has a sales target of Ұ45 billion ($420 million) for fiscal year 2008. Under terms of the agreement, Teijin Fiber’s p-xylene business will be spun off into a separate company named TS Aromatics Ltd. Teijin Fibers will own a 50.1% share; Showa Shell Sekiyu, 44.9%; and Mitsubishi Corp., 5%. Teijin Fibers currently produces 290,000 tons/year of p-xylene at its Matsuyama, Japan...

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