QUINCY, MASS. (Nov. 11, 1 p.m. ET) — Myriant Corp. and Japan's Sojitz Corp. are creating a sales and marketing partnership to distribute bio-based succinic acid in Japan, China, South Korea and Taiwan.
The two firms said they will sell the material in that region for uses including polyurethanes, plasticizers, polymers and solvents.
The deal will exploit Quincy-based Myriant's succinic acid manufacturing platform and Sojitz's strong market presence, the companies said.
Sojitz “has a strong presence in chemical sales and marketing and distribution throughout Asia with over 25 sales offices,” according to a Nov. 9 news release from the companies.
Bio-succinic acid is a growing sector: this announcement follows recent news of a a manufacturing joint venture between BioAmber and Mitsui to develop capacity globally for 165,000 metric tons of succinic acid and 123,000 metric tons of butanediol (BDO).
Myriant expects Sojitz's presence “to drive significant long term value for our biobased succinic acid platform produced in the Territory,” said Cenan Ozmeral, chief operating officer of Myriant. Sojitz already sells a wide array of biobased chemicals, he added.
Myriant broke ground in December 2010 on a 30-million-pound-per-year capacity commercial succinic acid facility in Lake Providence, La.