Mitsui Chemicals Co., Ltd. announced that it plans to acquire SUNVIEO ™ Styrene Thermoplastic Elastomer (TPS) business on December 1, 2017.
Mainly used in the automotive industry, thermoplastic elastomers are now gradually replacing PVC and vulcanizates to meet the growing global demand, and to date, Mitsui Chemicals has provided MILASTOMER ™ thermoplastic elastomers to growing automotive applications.
The company's thermoplastic vulcanizates (TPVs) have been used in automotive interiors, weatherstrips, steering gear and the like, and its thermoplastic olefin elastomer (TPO) has been used in components such as airbag covers.
With Mitsui Chemicals' acquisition of Asahi Kasei's SUNVIEO business, TPS will be added to the technology portfolio to enable the company to address a wide range of needs, including automotive parts and consumer products, and expects the technology to make the existing MILASTOMER Series Products in the market more competitive
MILASTOMER and SUNVIEO Business Overview
As part of Mitsui Chemicals' core business unit, MILASTOMER business is the mainstay of the company's growth business plan, with Mitsui Chemicals having identified its mobile business unit with healthcare, food and packaging as a growth area and Mitsui Chemicals intends to use this Acquisition as an opportunity to further develop its MILASTOMER business and continue to accurately grasp the growing global demand for further business expansion.