OSAKA, Japan (July 19)—Takeda Chemical Industries Ltd. has pulled out of Takeda Badisches Urethanes Industries Ltd., its 50/50 thermoplastic polyurethanes joint venture with BASF Japan Ltd., due to its "unsatisfactory business performance." Takeda transferred its 50-percent share in Tokyo-headquartered TBU to BASF Japan on June 30, marking the termination of the joint venture, founded in 1987. The TPU operation will now operate as BASF Polyurethane Elastomers Ltd., BASF A.G. said.
Takeda ends TPU joint venture with BASF
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