SEKISUI CHEMICAL CO., LTD. (Tokyo Head Office: Minato-ku, Tokyo. President: Naofumi Negishi) and The Lubrizol Corporation (Headquarters: Wickliffe, Ohio, U.S.A. CEO: James Hambrick) agreed in February 2013 (*) to establish a joint venture to manufacture chlorinated polyvinyl chloride (CPVC) resin in Thailand. The establishment of the joint venture required the prior approval of relevant authorities in certain countries, and that approval has now been obtained. Both companies started the joint venture on May 20. Construction of a new factory is smoothly progressing for the goal of beginning production in April 2015.
(*) Press release concerned regarding the establishment of the joint venture (February 21, 2013)
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CPVC Features and Applications
CPVC is a special type of polyvinyl chloride (PVC) with added chlorine, and is mainly used as a raw material in pipes where heat or chemical resistance are required such as plumbing, industrial, and fire sprinkler applications.
Market Environment
In recent years, the switch from metal to CPVC in pipes used in buildings such as homes and factories, etc., in the emerging countries of South Asia including India, and the Middle East has been progressing. In parallel, construction demand driven by economic growth is also booming. Demand for CPVC is growing every year, and solid expansion is also expected in the future.
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Disclaimer
This press release may contain forward-looking statements. Such forward-looking statements are based on current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements due to changes in global economic, business, competitive market and regulatory factors.