Japan Polyolefin sets up JV in Thailand

July 9, 1997 Japan Polyolefin Co. has set up its first overseas unit in the form of a joint venture in Thailand. The new firm, MBJ Advanced Polymers (Bangkok), should be operational by August 1998. The company will be in charge of manufacturing polypropylene compounds and marketing the substances to local affiliates of Japanese automakers and electronics firms.
MBJ Advanced has been capitalised at about 1.2 billion yen. Japan Polyolefin will contribute 15 % of the total, while Montell-JPO Co., a Tokyo-based subsidiary of Japan Polyolefin, will contribute another 2 %. A Thai affiliate of Montell Polyolefins BV of the Netherlands will cover the remainder.
MBJ Advanced sales are expected to reach 2 billion yen within three years.