Announcement of Termination of the Capacity Rights Agreement of S-SBR
02/18/2014
Tokyo, Japan, February 18, 2014 - JSR Corporation (“JSR”; head office: Minato-ku, Tokyo, Japan; President: Mitsunobu Koshiba) announces today that Styron Europe GmbH and JSR have reached an agreement to terminate the capacity rights agreement for the production of solution styrene butadiene rubber (S-SBR). This termination is effective as of March 31, 2014 and expected to have a minimal impact on the consolidated business results of JSR, which was reported on January 27, 2014.
In 2007, JSR obtained the capacity rights to produce 30, 000 tons of S-SBR from Styron Europe GmbH (formerly Dow Europe) and started to supply JSR S-SBR including the products made in Europe to European tire market. Last November, JSR reached an agreement with MOL Hungarian Oil and Gas Public Limited Company (MOL) to establish a joint venture in Hungary to manufacture S-SBR.
Considering the circumstances, JSR has concluded that it is the most appropriate course of action to consolidate production capacity in Europe to the new joint venture to establish an optimum supply system for customers in Europe.
In 2007, JSR obtained the capacity rights to produce 30, 000 tons of S-SBR from Styron Europe GmbH (formerly Dow Europe) and started to supply JSR S-SBR including the products made in Europe to European tire market. Last November, JSR reached an agreement with MOL Hungarian Oil and Gas Public Limited Company (MOL) to establish a joint venture in Hungary to manufacture S-SBR.
Considering the circumstances, JSR has concluded that it is the most appropriate course of action to consolidate production capacity in Europe to the new joint venture to establish an optimum supply system for customers in Europe.