Strategic Partnership Agreement with China Tianjin Bohai Chemical Industry Group
Jun. 22. 2010
Marubeni Corporation (hereinafter called Marubeni) has concluded strategic partnership agreement with Tianjin Bohai Chemical Industry Group Corporation (hereinafter called Tianjin Bohai) in China. In the future we will cooperate for the project strategy which Tenjin Bohai plans.
Tianjin Bohai is a public company owned by Tianjin City government in China, and one of the major general chemical companies in the industry. This chemical company has been engaged in inorganic chemical business of producing ammonia, fertilizer, and soda ash (raw material of glass), and in petrochemical business of using imported ethylene and propylene as raw materials.
In Tianjin City, petroleum and chemical business are positioned as the key industries due to their potentiality. Tianjin Bohai also is developing the Tianjin Bohai Chemical Area along with Tianjin City government. In that plan, the company is aiming the unique development via planning the project of propylene from LPG and propylene derivatives, and via extending the chemical chain management including electronic materials and fine chemicals in which further development is anticipated in the future.
During 1980’s, Marubeni has begun the business with Tianjin Bohai by selling its products such as insecticide and bleach. Today we sell vinyl chloride monomer which is a raw material of vinyl chloride, olefin products such as ethylene and propylene, and molten sulfur for a long time period. Especially of EDC, which is another raw material of vinyl chloride, Marubeni contributed as the partner when Tianjin Bohai imported EDC and molten sulfur at first time in Chinese chemical history. As for the molten sulfur business, Marubeni and Tianjin Bohai’s subsidiary have incorporated a joint venture company for the purpose of import and storage of molten sulfur.
Via the opportunity of this strategic partnership agreement, Marubeni takes the priority for handling its raw materials, products, and projects with the proposal and introduction of licensers and oversea project partners to Tianjin Bohai. Through this comprehensive alliance with Tianjin Bohai, Marubeni plans to develop the domestic demand in China, and take further approach to the market, which is shifting from the world factory to large consumption market.