GE Plastics Ups Stakes in Japan JVs

Chemical News: GE Plastics Ups Stakes in Japan JVs

https://www.chemnet.com Aug 24,2007 Chemical Week
GE Plastics says it has acquired full ownership of GE Plastics Japan, its joint venture with Mitsui Chemicals and Nagase & Co. Under the new ownership, GEPJ’s Chiba, Japan plant, which is located within Mitsui’s facility, will be closed. In a related move, GE Plastics has acquired Nagase’s stake in Gem PC--a venture between GE Plastics, Mitsui, and Nagase--boosting GE’s ownership to 58%. GEM, a producer of Lexan polycarbonate (PC) resins, will continue to operate as a jv between GE Plastics and Mitsui until March 31, 2008, at which time it will be dissolved. GE Plastics will then supply Lexan customers from its other PC facilities. “As we look to simplify our global business and fully leverage our leading global PC asset base, this transaction makes a lot of sense for us,” says Brian Gladden, CEO of GE Plastics. “This move will improve our global cost position for the Lexan business,” Gladden says.

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