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Furthering Japanese involvement in Vietnam’s chemical industry, Asahi Glass and Mitsubishi Corp. have jointly acquired Petronas Chemicals’ 93% stake in a plastic plant in Vietnam. The venture, Phu My Plastics & Chemicals, operates a 100,000-metric-ton-per-year polyvinyl chloride unit in the south of the country. A local partner, Vung Tau Shipyard, will keep its current 7% stake. Malaysia’s Petronas say it wants to get out of the PVC business.
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