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Nippon Shokubai and Sanyo Chemical have reportedly reached an agreement to combine their respective businesses through equity transfers to create an integrated holding company called Synfomix Co.
Ltd.
, which was first announced in May this year
.
The two parties plan to formally establish Synfomix on October 1, 2020
.
Production products include ethylene oxide, ethylene glycol (EG), ethanolamine, acrylic acid, acrylates, acrylic hydroxyl monomers, SAP, maleic anhydride and maleic anhydride derivatives and other products
The Solutions business unit will be divided into the Industrial, Personal, Energy and Electronics business units
.
According to Nippon Shokubai, the business environment for the chemical industry has become increasingly difficult in recent years
.
Super Absorbent Polymer (SAP), as one of the core businesses of Nippon Shokubai and Sanyo Chemicals, will continue to grow steadily in demand as the global population continues to grow
.
Nippon Shokubai said the company has in-house manufacturing processes in the value chain including catalysts, polymers and organic synthesis technologies, but also faces the challenge of creating new businesses that meet user needs
.
Nippon Shokubai is already the world's largest producer of SAP , with 17% of global capacity; the combined company will account for 27% of total global capacity
.
Nippon Shokubai is already the world's largest SAP producer.
Nippon Shokubai and Sanyo Chemical have combined annual sales of about 511.
2 billion yen (about 4.
7 billion U.
S.
dollars) and operating profit of 39 billion yen
.
