TOKYO (July 13)—Tokai Carbon Co. Ltd. and Mitsubishi Chemical Corp. are considering transferring their respective carbon black assets into a joint venture that would generate about $175 million in annual sales.
Tokai and Mitsubishi would split control of the proposed venture 60-40, according to Tokai.
The reason is to "create synergy of production, sales, technology, etc. in Japan and explore business opportunities in China," according to a Tokai.
Mitsubishi will include its SBR carbon master batch business to the unnamed joint venture, which is due to begin operations in April 2005 subject to the approval of Japan's Fair Trade Commission.