Mitsubishi Rayon Co. (MRC; Tokyo, Japan; www.mrc.co.jp) and Mitsui & Co. have signed a memorandum of understanding to agree to commence detailed feasibility studies for the establishment of a joint venture (JV) in the U.S. to produce methyl methacrylate (MMA) monomer with a new production unit. The production unit will have a planned MMA capacity of 250,000 metric tons per year (m.t./yr). The exact location for the U.S.-based unit has not been decided yet, and operations are scheduled to commence by the end of 2018. MRC will be the majority stakeholder in this JV.
The two companies have also entered into a non-binding material terms of agreement with The Dow Chemical Company (Midland, Mich.; www.dow.com) for the partial supply for feedstock form Dow to the JV through Mitsui for the production of MMA monomer and potential supply of the MMA monomer from the JV to Dow.