Seoul-Celanese and Mitsubishi Gas Chemical (MGC) have signed a memorandum of understanding (MoU) confirming their intent to restructure their Korea Engineering Plastics (KEP) poly-oxymethylene (POM) joint venture in Seoul, Korea. Under the terms of the MoU, KEP would focus on manufacturing, developing, producing and supplying high-quality products to its shareholders, who would then independently market the products globally, without restrictions, the partners explained. In addition, they have committed to increasing KEP's production capacity.
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