Nippon Steel Chemical and Showa Denko to Form Aromatics and Styrene Joint Venture

Showa Denko and Nippon Steel Chemical (NSC; Tokyo), a subsidiary of Nippon Steel (Tokyo), say they have agreed to establish a joint venture company that will take over NSC's production of styrene, benzene, toluene, and xylenes at Oita, Japan. The jv company, tentatively dubbed NS Styrene Monomer, will be established on August 1, 2011 and be headquartered at Tokyo within the premises of NSC’s head office. NSC will have a 51% stake in the jv and Showa Denko will hold the remaining 49%. NSC will transfer the relevant assets to the new company and NSC will...

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