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Zeon and Sumitomo Chemical to Consolidate S-SBR Businesses

Published on 2016-08-09. Author : SpecialChem

Zeon Corporation and Sumitomo Chemical Company have reached a basic agreement to commence a joint study on possible consolidation of both companies’ Solution Styrene Butadiene Rubber (S-SBR) businesses.

Zeon Corporation and Sumitomo Chemical will look into forming a new joint venture company and will transfer their current S-SBR operations, including those of their respective subsidiaries, to the new company with the aim of strengthening the S-SBR business. This new partnership will accelerate new product development, enhance cost competitiveness and secure a stable product supply.

Currently the basic agreement is not legally binding. Both companies will discuss and agree on the particulars relating to the business consolidation and the details of the new joint venture company. Legally-binding agreements will be settled after both companies finalize internal authorization procedures. At the same time, necessary steps will be taken to obtain regulatory approvals and clearances concerning the transaction both in Japan and abroad.

The tentative schedule of the new S-SBR partnership is as follows:

 Completion of due diligence and studies on the envisaged business consolidation  By the end of September 2016 
 Signing of definitive agreements   End of December 2016
 Formation of the new company   April 2017

About Zeon Corporation

ZEON Corporation is a chemicals manufacturer that produces materials for daily life such as synthetic rubbers, specialty resins and electronic components.

In keeping with its name, Zeon upholds the corporate philosophy of contributing to the sustainable development of people, society and the global environment through innovative world-class technologies for the preservation of the Earth and the prosperity of the human race.

Zeon’s R&D efforts have been primarily focused on C4 and C5 fractions (hydrocarbon molecules with either four or five carbon atoms), which are produced by further distillation of naphtha after its extraction from crude oil.

To make maximum use of petroleum, Zeon thoroughly separates and refines this gift of the Earth using one of the world’s most advanced distillation plants, developed with proprietary technologies. Zeon then extracts components for high-quality materials that are used to create unique products.

Source: Zeon Corporation

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