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Japanese Refiners Urge Early Orders From Airlines Amid Jet Fuel Shortage
Idemitsu Kosan and Xi'an Ruilian reached an agreement to jointly establish a joint venture.
On June 7th, Idemitsu Kosan Co., Ltd. (hereinafter referred to as "Idemitsu Kosan") and Xi'an Manareco New Materials Co., Ltd. (hereinafter referred to as "Xi'an Manareco") announced that they have reached an agreement to allow Xi'an Manareco to increase its capital in Idemitsu Electronic Materials (China) Co., Ltd. (hereinafter referred to as "China Idemitsu Electronic Materials") located in Chengdu, Sichuan Province, China. After the capital increase is completed, Idemitsu Group and Xi'an Manareco will respectively hold 80% and 20% of the shares in China Idemitsu Electronic Materials. It is understood that after the establishment of the joint venture company, China Idemitsu Electronic Materials will take over the sales function of Idemitsu Kosan's OLED display company in China and will expand their business.
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