Brief: Mitsubishi Gas Chemical Company And Celanese Corporation Sign MoU To Restructure Korea Engineering Plastics JV

Mitsubishi Gas Chemical

09/12/2020 06:04

Dec 9 (Reuters) - Celanese Corp  CE.N :
    * MITSUBISHI GAS CHEMICAL COMPANY AND CELANESE CORPORATION
SIGN
MOU TO RESTRUCTURE KOREA ENGINEERING PLASTICS JV
    * KEP WOULD FOCUS ON MANUFACTURING, DEVELOPING, PRODUCING,
AND
SUPPLYING PRODUCTS TO ITS SHAREHOLDERS
    * PARTIES HAVE ALSO COMMITTED TO INCREASING KEP'S PRODUCTION
CAPACITY TO IMPROVE LONG-TERM SECURITY OF SUPPLY
    * PARTIES EXPECT JOINT VENTURE RESTRUCTURING TO BE COMPLETED
BEFORE END OF 2021
    * MOU ENVISIONS A MODERNIZATION OF SCOPE OF KEP JV
    * KEP WILL CONTINUE TO SERVE ITS CUSTOMERS, WITHOUT CHANGE,
UNTIL
RESTRUCTURING IS CLOSED
    * PARTIES EXPECT JV RESTRUCTURING TO BE COMPLETED BEFORE END
OF
2021

Source text for Eikon:  ID:nBw8K7jHya 
Further company coverage:  CE.N 

 ((Reuters.Briefs@thomsonreuters.com;))