Idemitsu Kosan has resolved to terminate its joint venture (JV) agreement with BASF regarding production and sales of 1,4-Butanediol (BDO) by BASF Idemitsu Co., Ltd. (BASF 67% Idemitsu 33%, hereafter BIC) and to withdraw from the BDO business.
BDO is an organic compound used as a raw material of stretchable fibres and engineering plastics. Idemitsu said the business environment has deteriorated in recent years due to a decline in domestic demand and an oversupply caused by the expansion of facilities in Asia.
BIC's production plant for BDO (with a production capacity of 25 000 tpy) in the Chiba complex will cease operation in December 2020. BASF will take over BIC’s BDO business and continue supplying to customers in Japan going forward.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/20082020/idemitsu-kosan-ends-petrochemical-jv-with-basf/
