HOUSTON, Sept. 7 /PRNewswire/ -- Following Sumitomo's recent announcement on development of a new propylene oxide (PO) manufacturing process, Lyondell Chemical Company (NYSE: LYO) today confirmed that it has been in discussions with Sumitomo regarding the worldwide commercialization of this technology. The expectation for the first plant in Japan is that Nihon Oxirane Co., Ltd., the Sumitomo-Lyondell joint venture, will market the product in Japan and Lyondell will handle the marketing outside Japan. Subsequent joint plants outside Japan are also being discussed by Sumitomo and Lyondell.

"Sumitomo and Lyondell have had a longstanding successful partnership in the propylene oxide business in Japan through the Nihon Oxirane joint venture, which has been in operation more than 25 years and was the recent recipient of the most prestigious safety award in Japan," said Edward Dineen, Senior Vice President, Intermediate and Performance Chemicals for Lyondell. "It is our expectation that this strong partnership will make this new technology a success as well."

A more detailed announcement by Lyondell and Sumitomo is expected in the near future, when specific agreements have been finalized.
SOURCE Lyondell Chemical Company
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