| Adeka forms additives JV in Dubai |
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Japan's Adeka is investing some ¥350 million (E3 million) into Al Ghurair Additives, a subsidiary of Al Ghurair Petrochemicals, in order to establish a joint venture company in Dubai. The JV company is being renamed Adeka Al Ghurair Additives with effect from this month. Adeka's stated aim is to develop a production and sales structure for polymer additives in the Middle East. At first it will make onepack granules. The company expects about 10%/year growth in the Middle East's E85 million/year polymer additives markets. Consumption of one-pack granules in the region is expected to double to 40,000 tonnes/year between 2008 and 2014. www.adk.co.jp |
