Mitsui, Dow Chemical to Build Bioplastics Plant in Brazil
2011-07-28 17:55:31
Japan Economic Newswire -- TOKYO, JAPAN -- July 20, 2011 -- Mitsui & Co. said Wednesday it has agreed with Dow Chemical Co. of the United States to build a large complex to produce plant-derived plastics in Brazil.
Mitsui will acquire a 50 percent stake in Dow Chemical's wholly owned subsidiary for $200 million to form a joint venture for production of biopolymers from sugarcane-derived ethanol.
Mitsui and Dow Chemical share a strategic business interest in biomass-derived chemicals and biopolymers, Mitsui said.
The Japanese trading house said it expects the joint venture to enhance further development of important opportunities in securing sugarcane-based resources for Mitsui's green chemical business.