On February 13, ChemChina Chairman Ren Jianxin met with Yuji Kobayashi, Corporate Representative and Deputy General Manager of Asahi Kasei Corp. at ChemChina’s headquarters. Both sides exchanged views on the cooperation.
Bluestar concluded a cooperation agreement with Asahi Kasei Corp. a Japan-based company, for the integrated production and sale of Xyron? modified polyphenylene ether (mPPE) in China.
Bluestar is China’s only manufacturer of 2,6-xylenol and polyphenylene ether (PPE). According to the agreement, both sides will leverage Bluestar’s technology and cost advantages for 2,6-xylenol and PPE together with Asahi Kasei’s mPPE processing and technology advantages to produce and sell 2,6-xylenol, PPE and mPPE and to facilitate further expansion in the growing Chinese market. They are slated to produce 30,000 metric tons per year (m.t./yr.) of PPE and 20,000 m.t./yr. of mPPE. Featuring superior heat resistance, flame retardance, dimensional stability, and mechanical properties, mPPE is used in the energy and environmental applications including electric vehicle battery modules and solar panel components.
After the joint venture is established, a final investment decision by both sides is conditional upon receipt of the evaluation of the economics.
Centering on advanced materials, healthcare and nutrition, industrial service and basic chemicals, Bluestar is a world-leading company producing new chemical materials and specialty chemicals. Since 1984, it has developed rapidly and grown into one of China’s most successful chemical companies through constant innovations and M&A. In the section of engineering plastics, Bluestar, a global leader in advanced chemical materials, owns the only production equipment for PPE, the largest production equipment for bisphenol A (BPA), and the largest and the most variety of production facilities for epoxy resin in China.
Founded in 1922, Asahi Kasei Corp. is an integrated chemical manufacturer adapting to Japan’s economic development and social and environmental changes to promote the diversified business. Taking the opportunity of Japan synthesizing ammonia through hydropower, it started from synthetic chemistry and chemical fiber and now reorganizes its business portfolio into the three business sectors of Material consisting of fibers & textiles, chemicals and electronics, Homes being made up of homes and construction materials, and Health Care being composed of pharmaceuticals, medical care and acute critical care, contributing to life and living for people around the world. Under its “Cs for Tomorrow 2018” medium-term management initiative, Asahi Kasei is advancing a strategic global expansion of its engineering plastics business centered on automotive applications.