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Business
DIC Transfers Polystyrene to PS Japan
July 5, 2004
| A version of this story appeared in
Volume 82, Issue 27
Dainippon Ink & Chemicals has agreed to transfer its polystyrene business to PS Japan. Once the deal is completed, PS Japan will have polystyrene capacity of 616,000 metric tons per year, the largest in Japan. DIC is contributing a 171,000-metric-ton plant in Yokkaichi. It will receive a 20% stake in PS Japan; the other partners are Asahi Kasei with 40% and Mitsubishi Chemical and Idemitsu Petrochemical with 20% each. Japan's polystyrene industry has struggled to survive in recent years as a result of high costs and an increase in foreign competition.
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