 |
|
|
 |
|
|
|
|
| November 24, 1998 |
|
| Normal Butanol Licensing Agreement Between MCC
and Sasol |
|
| Mitsubishi Chemical Corporation |
|
Mitsubishi Chemical Corporation (Head Office: Chiyoda-ku, Tokyo, Japan; President:
Akira Miura) and Sasol (a company registered in the Republic of South Africa,
with its principal office in Johannesburg; Managing Director: Pieter Cox) have
reached a mutual agreement in MCC's licensing of normal butanol (NBA) technology
to Sasol and MCC's partial off-take rights from Sasol's new NBA facilities.
MCC will license its NBA technology to Sasol at a capacity of 150 kilo tons (KT)
per annum, and Sasol will build NBA facilities at an existing major plant located
in Secunda, South Africa, targeting completion for the middle of 2001.
MCC will be entitled to take NBA partially that is produced in the new plant and
plan to sell its allotment.
Mitsubishi Chemical Engineering Co., 100% owned by MCC, will fully support the
basic engineering of NBA facilities under this agreement.
MCC considers oxo alcohol technology as one of its "core" technologies, and has
continued to develop and refine it over the years. MCC's oxo alcohol technology
has achieved world recognition.
Sasol, meanwhile, has established itself firmly as one of the world's prominent
coal producers. In recent years, Sasol has aggressively invested in chemicals,
using competitive raw materials obtained through its proprietary and state-of-the-art
coal liquefaction technology. Currently Sasol's chemicals business has the largest
market share in Africa and is expected to grow globally.
Especially, Sasol has established alcohol and its derivatives (solvent chemicals)
as its "core" business strategically and globally, and its current global market
share in solvent chemicals, such as acetone, normal propanol, are considerable.
Sasol's feasibility studies concluded that NBA production, using competitive propylene,
is a strategic business showing promise of extensive growth in world market share.
Therefore, Sasol requested MCC to provide its NBA technology, with Mitsubishi
Corporation acting as intermediary.
MCC reviewed the merits of forming an alliance with Sasol, which includes MCC
licensing NBA technology to Sasol and Sasol ensuring off-take rights to MCC. Concluding
that the alliance supports MCC's strategy for the oxo alcohol business, a mutually
beneficial agreement was reached.
|
|
|
 |
|
|
|
