Michelman Forms Joint Venture with Maruyoshi Chemical
CINCINNATI – Michelman has established a joint venture (JV) with Maruyoshi Chemical Co. Ltd., a chemical trading company and a developer and manufacturer of specialty waterborne polyolefin emulsions based in Gifu, Japan. Maruyoshi Chemical has separated its manufacturing business from the chemical trading business with the joint venture, which involves only the manufacturing business.
Maruyoshi has taken a majority position in the JV, named Maruyoshi Michelman Co. Ltd. Nobuyuki Hashizume, President of Maruyoshi Chemical Co., has been appointed Director and President, and Steven Wong, Michelman’s Asia-Pacific Managing Director, has been named the Director and Managing Officer. Michelman has assumed a minority position and will support the JV through strategic market development.
The joint venture will be located in Gifu and combines the strengths of both Michelman and Maruyoshi. Customers will have access to innovative waterborne emulsion technology, state-of-the-art manufacturing, an experienced technical sales and support team, deep knowledge of Japanese and global chemical regulatory issues, and emulsion technology experience across numerous industries.
Products offered through the JV will be available globally through a combination of channels. Existing customers for JV products will continue to be handled by Maruyoshi Chemical’s trading business. New customers will be served by Maruyoshi Chemical or through Michelman’s global sales and support teams.