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Teijin, Showa Shell Form Para-xylene JV in Japan

11:59 AM MST | February 5, 2008 | CW 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, TS Aromatics (Tokyo), will be formed through the spin-out of Teijin Fibers’s para-xylene business, which comprises a 290,000 m.t./year para-xylene plant at Matsuyama, Japan. Teijin Fibers will hold a 50.1% stake, while Showa Shell will own a 44.9% stake. Mitsubishi Corp. will own the remaining 5%. Under the deal, Showa Shell will supply the jv with mixed xylenes, while Teijin Fibers will purchase...

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