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People & Business :: M&A
Ube, Lotte Chemical, and Mitsubishi form joint venture
10:06 AM MDT | March 19, 2013
Ube Industries (Tokyo), Mitsubishi Corp. (Tokyo), Lotte Chemical (Seoul), and Lotte Chemical’s wholly owned Lotte Chemical Titan (Kuala Lumpur) subsidiary have established a joint venture at Pasir Gudang, Malaysia, to manufacture butadiene rubber (BR). The jv is called Malaysian Synthetic Rubber. Lotte Chemical and Ube each have a 40% stake, while Lotte Chemical Titan and Mitsubishi each own 10%. Using Ube manufacturing technology, the jv will construct a facility with production capacity of 50,000 m.t./year of BR. Production is expected to begin in 2014...
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