Mitsubishi Chemical and Schulman Dissolve Sunprene JV; Business to be Transferred to Mitsubishi

Mitsubishi Chemical says that A. Schulman and Mitsubishi have agreed to dissolve and liquidate their Sunprene Co. (Akron, OH) polyvinyl chloride (PVC) compounds joint venture, and the business will be transferred to Mitsubishi. Schulman holds a 70% stake in Sunprene and Mitsubishi holds the rest, and it has a production capacity of 12,000 m.t./year. A shift in Schulman's business strategy has made Sunprene non-strategic to Schulman, and Schulman proposed to dissolve the jv, Mitsubishi says. Sunprene will be dissolved by the end of 2011. Mitsubishi did not...

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