Mitsubishi Chemical Enters Agreement To Transfer Shares in SMP to Sinopec

摘要

Mitsubishi Chemical Corp.(MCC)has signed an agreement with China Petroleum & Chemical Corp.(Sinopec)to transfer the shares it holds in Sinopec Mitsubishi Chemical Polycarbonate(Beijing)Co.(SMP)to Sinopec.Located in Beijing,China,SMP manufactures and sells bisphenol-A and polycarbonate resins to serve demand in China and other parts of the world.It was established in 2009 as a joint venture between PCR Investments Japan Corp.(PCRIJ),which was jointly funded by MCC and Mitsubishi Engineering-Plastic Corp.,and Sinopec.