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Michelman has established a joint venture (JV) with Maruyoshi Chemical Co Ltd, a developer and manufacturer of speciality waterborne polyolefin emulsions and chemical trading company, based in Gifu, Japan. Maruyoshi Chemical has separated its manufacturing business from the chemical trading business with the JV involving only the manufacturing business.
Maruyoshi has taken a majority position in the JV, which is named Maruyoshi Michelman Co Ltd. Mr Nobuyuki Hashizume, President of Maruyoshi Chemical Co, has been appointed Director and President and Mr Steven Wong, Michelman’s Asia Pacific MD, has been named the Director and Managing Officer. Michelman has assumed a minority position and will support the JV through strategic market development.