Joint Venture between Zeon and Sumitomo Chemical to Start Operations in April
Mar. 17, 2017
ZS Elastomers Co., Ltd. (ZSE), a new joint venture between Zeon Corporation (Zeon: President Kimiaki Tanaka) and Sumitomo Chemical Co., Ltd. (Sumitomo Chemical: President Masakazu Tokura), will start operations on April 3, consolidating the two companies' solution styrene-butadiene rubber (S-SBR) businesses.
Having already obtained regulatory approvals or clearance on the business consolidation both in Japan and overseas, ZSE takes over the sales and R&D functions of Zeon and Sumitomo Chemical relating to the S-SBR business as agreed on. Outside Japan, ZSE is also to handle products manufactured by each company's relevant subsidiaries in Singapore.
The new joint venture will work to expand the S-SBR business by maximizing multifaceted synergy effects that are expected to come about from new product development driven by fusion of respective company's technologies, bolstered cost competitiveness, an enhanced stable supply of products, etc.
|Name||ZS Elastomers Co., Ltd.|
|Address||1-6-2 Marunouchi, Chiyoda-ku, Tokyo 100-8246, Japan|
|Established||December 27, 2016|
|Representatives||Kei Itoh, President (Zeon)
Masahiro Fukuyama, Vice President (Sumitomo Chemical)
|Capital||450 million yen|
|Major shareholders||Zeon 60%, Sumitomo Chemical 40%|
|Operations||Sales and R&D of S-SBR|