Home> Press Release> Press Release (2016)> Zeon Corporation and Sumitomo Chemical Consider Consolidation of S-SBR Businesses

Zeon Corporation and Sumitomo Chemical Consider Consolidation of S-SBR BusinessesPrint Page

August 4, 2016

Zeon Corporation and Sumitomo Chemical Company have reached a basic agreement to commence a joint study on possible consolidation of both companies’ Solution Styrene Butadiene Rubber (S-SBR) businesses.

Zeon Corporation and Sumitomo Chemical will look into forming a new joint venture company and will transfer their current S-SBR operations, including those of their respective subsidiaries, to the new company with the aim of strengthening the S-SBR business. This new partnership will accelerate new product development, enhance cost competitiveness and secure a stable product supply.

Currently the basic agreement is not legally binding. Both companies will discuss and agree on the particulars relating to the business consolidation and the details of the new joint venture company. Legally-binding agreements will be settled after both companies finalize internal authorization procedures. At the same time, necessary steps will be taken to obtain regulatory approvals and clearances concerning the transaction both in Japan and abroad.

The tentative schedule of the new S-SBR partnership is as follows:

Completion of due diligence and studies on the envisaged business consolidation :By the end of September 2016
Signing of definitive agreements                    : End of December 2016
Formation of the new company                    : April 2017

Matters for disclosure in relation to the consolidation will be promptly released as details are finalized.

mailFor further information
  • Zeon Corporation,
    Department of Corporate Communications
  • Tel: +81-3-3216-2747
Contact Form
Home> Press Release> Press Release (2016)> Zeon Corporation and Sumitomo Chemical Consider Consolidation of S-SBR Businesses
Page top