POINTERS
Dainippon sells polystyrene to PS Japan
Effective 1 October 2004, Dainippon Ink and Chemicals (DIC, Tokyo; www.dic.co.jp) will sell its polystyrene operations to PS Japan Corp, a company set up in April 2003 combining PS operations of Mitsubishi Chemical (www.m-kagaku.co.jp), Asahi Kasei (www.asahi-kasei.co.jp) and Idemitsu Petrochemical (www.idemitsu.co.jp). Inclusion of the DIC activities will cement PS Japan´s position as top PS player with production capacity of 616,000 t/y – claimed to be equal to more than 50% of domestic output – and annual sales of JPY 60 bn (EUR 456m). DIC said its decision to sell was due to flagging domestic demand as well as rising competition from foreign producers.
22.07.2004 Plasteurope.com [12731]
Published on 22.07.2004