11 May 2006
Houston, Texas - ExxonMobil Chemical and Mitsubishi Chemical Corp. will terminate joint venture agreements for Mytex Polymers Asia Pacific Private Ltd. (Mytex AP) and Mytex Polymers Partnership (Mytex US), effective June 1.
ExxonMobil will transfer its interest in Mytex Polymers Inc. -owner of Mytex US - to a Mitsubishi Chemical affiliate in the US, while ExxonMobil's Asia Pacific unit will transfer its share of Mytex AP to Mitsubishi Chemical Singapore PTE Ltd.
Additional terms were not disclosed.
Mytex Polymers makes specialty polypropylene-based compounds for automotive applications such as instrument panels, bumpers and other strong, lightweight components.
From Rubber & Plastics News (A Crain publication)
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