Taiwanese TSM and CPC Corp joint venture on hold
The planned joint venture included a styrene monomer plant located in Linyuan District, Taiwan to provide styrene monomer for the Asian market in line with the growing styrene demand in China. However, TSM’s concerns about the possible anti-dumping applications pushed the company to renegotiate its NT8 billion ($265.45 million) joint venture with CPC Corp.
According to the plan, TSM was to hold a 30% share in the Kaohsiung-based unit, while CPC and Grand Pacific Petrochemical Corp would have respective shares of 40% and 30%.
TSM already owns a styrene plant with a production capacity of 340,000 tons/year in Taiwan, amounting to almost 95 percent of its total sales.
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