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Sep
25

Asahi Kasei and Bluestar establish joint ventures for mPPE business in China

Düsseldorf, September 25, 2017 – As announced on February 15, 2017, Asahi Kasei concluded a joint venture agreement with China National Bluestar (Group) Co., Ltd. (Bluestar), a subsidiary of China National Chemical Corp. (ChemChina), for the integrated production and sale of Xyron™ modified polyphenylene ether (mPPE) in China, including its intermediate materials 2,6-xylenol and polyphenylene ether (PPE). As antitrust clearance has been received, respective joint ventures for manufacturing and sale were established in Nantong, Jiangsu, China.

The two joint ventures will leverage Bluestar”s technology for 2,6-xylenol and PPE together with Asahi Kasei”s mPPE compounding technology and applications development capability to facilitate further expansion in the growing Chinese market.

Asahi Kasei and Bluestar will now begin studying the construction of manufacturing facilities for 2,6-xylenol, PPE, and mPPE, and proceed with detailed evaluation of the economics of the joint business targeting a final investment decision by March 2018.

Profile of manufacturing joint venture

Company name: Asahi Kasei Bluestar (Nantong) Engineering Plastics Manufacturing Co., Ltd.

Location:Nantong, Jiangsu, China

Chairman:Tomoyuki Saito

Shareholding:Bluestar 50.01%, Asahi Kasei 49.99%

Operation:Manufacture of 2,6-xylenol and PPE (30,000 tons/year: polymer) and mPPE (20,000 tons/year)

Establishment.August 28, 2017

Profile of sales joint venture

Company name: Asahi Kasei Bluestar (Nantong) Engineering Plastics Sales & Marketing Co., Ltd.

Location:Nantong, Jiangsu, China

Chairman:PANG Xiao Lin

Shareholding:Asahi Kasei 50.07%, Bluestar 49.93%

Operation:Sale of 2,6-xylenol, PPE, and mPPE, (subsidiaries to be established in Shanghai, Shenzhen, and Hong Kong)

Establishment:August 21, 2017

The manufacture of Xyron™ mPPE begins with phenol and methanol as raw materials. Phenol and methanol are used to synthesize 2,6-xylenol, which is then polymerized into PPE. The PPE is compounded with other polymers and various combinations of glass fiber, flame retardant, and other additives to form mPPE. Featuring superior heat resistance, flame retardance, dimensional stability, and mechanical properties, mPPE is used in fields ranging from office equipment, automotive components (relay blocks, electric vehicle battery modules, etc.), junction boxes for solar panels, industrial components, and electrical and electronic parts (connectors, etc.).

About Asahi Kasei

The Asahi Kasei Corporation was founded in Japan in 1922 and is now one of the leading diversified company with operations in the Material, Homes, and Health Care business sectors. From its roots in chemistry, the Material sector encompasses fibers & textiles, petrochemicals, performance polymers, performance materials, consumables, battery separators, and electronic devices. The Homes sector provides housing and construction materials to the Japanese market. The Health Care sector includes pharmaceuticals, medical devices, and acute critical care devices and systems. With more than 30,000 employees around the world, the Asahi Kasei Group serves customers in more than 100 countries.

Asahi Kasei is “Creating for Tomorrow” with all operations sharing a common mission of contributing to life and living for people around the world.

Asahi Kasei Europe GmbH began operations on April 1st, 2016 to expand business in Europe by functioning as a controlling base in the region, mainly focusing on the automotive industry. We”re here to be your innovation partner with our various technologies.

For more information, please contact:

Company contact

Asahi Kasei Europe GmbH

Sarah Collisi

Am Seestern 4

40547Düsseldorf

Phone: +49 (0)2118822 030

E-Mail: info@asahi-kasei.eu

Press contact

financial relations GmbH

Henning Küll

Louisenstraße 97

61348 Bad Homburg

Telefon: +49 (0) 6172 27159 12

Phone: +49 (0) 175 903 42 29

E-Mail: h.kuell@financial-relations.de

https://www.asahi-kasei.eu/

http://www.asahi-kasei.co.jp/asahi/en/

The Asahi Kasei Group is a diversified group of companies led by Asahi Kasei Corp., with operations in the Material, Homes, and Health Care business sectors. Asahi Kasei distributes its innovative technologies and unique materials on markets worldwide.

With more than 30,000 employees around the world, the Asahi Kasei Group serves customers in more than 100 countries. Asahi Kasei is “Creating for Tomorrow” with all operations sharing a common mission of contributing to life and living for people around the world.

Firmenkontakt
Asahi Kasei Europe GmbH
Sarah Collisi
Am Seestern 4
40547 Düsseldorf
+49 (0)211 8822 030
info@asahi-kasei.eu
https://www.asahi-kasei.eu/

Pressekontakt
financial relations GmbH
Henning Küll
Louisenstraße 97
61348 Bad Homburg
+49 (0) 6172 27159 12
h.kuell@financial-relations.de
http://www.financial-relations.de

Andere Pressemitteilungen zu: Allgemein

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