Japanese, Korean firms consolidate polyurethane businesses


In a somewhat rare case of Japan-Korea cooperation, Mitsui Chemicals, Inc. (Tokyo) and SKC Co., Ltd. (Seoul) have signed a joint venture agreement to consolidate the polyurethane material businesses of both companies. The two companies plan to form a Seoul-based joint venture company by April 1, 2015 that will target global sales of $2.0 billion per year by around 2020. The 50:50 joint venture anticipates revenue of approximately $1.5 billion in 2015.
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