Trinseo Holding, a wholly-owned subsidiary of Trinseo AS, has signed an agreement to sell its 50% share in the Sumika Styron Polycarbonate (SSPC) joint venture to Sumitomo Chemical for an undisclosed price.
The SSPC currently produces polycarbonate resins at production facilities in Niihama City, Ehime, Japan, and serves customers and markets in Asia.
In a statement on 26 January, Trinseo said the two sides had also agreed to continue long-term supply of polycarbonate resin to Trinseo’s Performance Plastics businesses, and will maintain the strategic relationship between SSPC and Trinseo.
“Sumitomo Chemical is a natural owner for this Japan-based polycarbonate plant, and as an industry leader in the region, Sumitomo Chemical is better positioned to manage and deliver value from this asset in the future,” said Tim Stedman, senior vice president and business president for Basic Plastics and Feedstocks, Trinseo.
Stedman, however, emphasised that Asia Pacific would continue to be “an important growth region for Trinseo”, and that the company was strongly committed to growing its performance businesses in the region.
SSPC was originally formed as Sumitomo Dow Limited in 1996 as a 50/50 joint venture between Sumitomo Chemical Co., Ltd. and The Dow Chemical Company.
After Styron (Trinseo) became an independent company in 2010, it assumed Dow’s ownership share in the joint venture, which was renamed Sumika Styron Polycarbonate (SSPC) at that time.