Mitsui Chemicals, Idemitsu Kosan and Sumitomo Chemical announced on Sep 10 that they agreed to integrate their polyolefin business including polypropylene (PP) and polyethylene to make the business more competitive. Sumitomo Chemical's PP and LLDPE business in Japan will be integrated to Prime Polymer, a joint venture between Mitsui Chemicals and Idemitsu Kosan. Sumitomo Chemical will hand over the business to Prime Polymer. Further, Sumitomo will acquire shares in Prime Polymer. They will continue discussions to conclude final contact.

After Sumitomo Chemical's polyolefin business is transferred to Prime Polymer, 52% of shares of Prime Polymer will be owned by Mitsui Chemicals, 28% will be owned by Idemitsu Kosan and 20 % will be owned by Sumitomo Chemical.

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