| Borealis and Mitsubishi Chemical Corporation have signed a polypropylene compounding agreement covering manufacture and supply in the US and Europe.
The goal is to improve supply of compounds to the automotive sector through local supply of high performance materials, the companies said.
The agreement was signed for by Borealis ceo Mark Garrett and Mitsubishi Chemical Europe ceo Ryu Hasegawa. Under the deal Borealis will use its Borstar technology to make compound using a formula developed by Mitsubishi Chemical Europe.
The formula is licensed by Japan Polypropylene Corporation, a joint venture between MCC and Chisso Corporation.
Welcoming the agreement, Garrett said: “Automotive OEMs produce vehicles on global platforms. As material producers we must therefore have capacity to supply high quality, high performance PP/CP and provide best- in-class service to customers globally.”
At JPP, president Masahiro Abe said: “We believe that the agreements with Borealis will further improve our ability to fulfil our customers’ demands for polypropylene and will consolidate our position as a global supplier in the European automotive sector.”
The manufacturing and supply agreement for PP/CP in the USA was signed by Toshihiro Morimoto, ceo of Mytex Polymers, US Corporation of Jeffersonville. This firm is 100% owned by Mitsubishi Chemical Corporation through a subsidiary.
Also signing, was the ceo of Borealis Compounds of Port Murray, in New Jersey, a 100% subsidiary of Borealis AG. |
