TOKYO, Dec 26, 2011 (JCN via COMTEX) -- Mitsui Chemicals Inc. and China Petroleum & Chemical Corp. (Sinopec) (600028. SH) have signed an agreement to establish a joint venture (JV) company for the production and distribution of ethylene-propylene-diene terpolymer (EPT).

Demand for EPT is expected to continue to increase significantly. The new plant, scheduled for commercial operation in the first quarter of 2014, is expected to be the world's largest state-of-the-art plant in EPT production.