KUALA LUMPUR: Asia Poly Holdings Bhd
’s 35% associate, EcoGreen Monomer Sdn Bhd, has signed a memorandum of understanding (MoU) with Sumitomo Corp Asia & Oceania Pte Ltd to supply depolymerised methyl methacrylate monomer (DMMA) for the paint and glue industry.
Sumitomo Corp is a leading integrated trading and investment solutions provider. It is also a subsidiary of the Sumitomo Corp Group.
In a statement, Asia Poly said Sumitomo would purchase a minimum quantity of 2,000 tonnes of DMMA per month from EcoGreen. The DMMA will be packed in ISO tanks of 22 tonnes per unit.
Asia Poly noted that the pricing of each unit will be subject to the global industry benchmark of MMA on a weekly basis.
Sumitomo intends to sell and market EcoGreen’s DMMA to European countries, USA, Japan, Vietnam, Thailand, Indonesia and India.
Besides DMMA, this MoU also includes the sales and marketing of various chemical products for Sumitomo Shojo Chemicals Co Ltd, a subsidiary of Sumitomo Corp.
DMMA is an eco-friendly raw material used to manufacture acrylic plastics, produced from recycling used or waste acrylic products.
