Sinopec and MCC Form Strategic Business Partnership      

China Petroleum and Chemical Corporation (Sinopec Corp.) and Mitsubishi Chemical Corporation (MCC) signed a basic agreement to establish a strategic business partnership on April 14th. The goal of the partnership is to use respective advantages in technologies, market, and materials, and further strengthen ties between the two parties to speed up business activities.
   The partnership from this agreement will cover joint research, project tie-ups, raw material and finished product supplies, engineering, logistics, technological information exchanges and human resource exchange.
   In addition, both companies actively engage in reduction of CO2 emissions and effective use of CO2, sustainable energy from organic photovoltaic modules, and other eco-friendly projects.
   MCC and Sinopec Corp. have a good relationship over the years through joint ventures in the petrochemical field and a series of technology alliances. For example, in the field of polypropylene compounds for automotive use, both sides have formed a joint venture for more than ten years. And recently, the two companies have conducted preparations for the establishment of a new joint venture to produce bisphenol-A and polycarbonate.
   Through the new strategic partnership, MCC and Sinopec Corp. aim to speed up their expansion of business and shift to higher value-added fields, and use this new business model to contribute to the growth of the chemicals industry throughout Asia.