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Mitsui Chemicals to Form Polyurethane Business Alliance with SABIC
 

Tokyo, Feb 29, 2012 (JCN) - Tokyo-based Mitsui Chemicals Inc. and Saudi Basic Industries Corp. (SABIC) have announced a License Agreement for the manufacturing technology of TDI and MDI, the raw material of polyurethane, and to study further possible business alliances.

Mitsui Chemicals will provide all its manufacturing technology for TDI using toluene as a starting material and for intermediates DNT, TDA, and phosgene, as well as its manufacturing technology for MDI using benzene as a starting material, and intermediates nitrobenzene, aniline, MDA, and phosgene.

Mitsui Chemicals has a long experience as a manufacturer of TDI and MDI, during which time it has developed state-of-the-art manufacturing processes. Its proprietary technology, which is highly evaluated on the global market, allows stable and safe production of high quality products.

Under the license agreement, SABIC will commence front end engineering and design (FEED) of its TDI/MDI plant using Mitsui Chemicals' proprietary technology. Through this technology license agreement, SABIC will strengthen its competitive edge with high-quality TDI and MDI, and expand into the polyurethane business.

For Mitsui Chemicals, the agreement will provide an opportunity to establish a strategic supply base for competitive TDI/MDI using low cost raw materials available in the Middle East.

In light of this agreement, Mitsui Chemicals has also announced its plans to restructure its polyurethane business, as well as study further business alliances in polyurethanes with SABIC in terms of business strategy as well as economic feasibility, which may include forming a joint venture company. The companies will conclude a concrete alliance plan in 2013 after the FEED has been completed by SABIC.

By Saroj Shrestha Staff Writer

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