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.