Dupont, Hitachi Chemical Set Up Joint Venture

US chemical giant DuPont Co and Hitachi Chemical Co Ltd announced on Tuesday that they had established a joint venture to make liquid polyimide materials for electronic components in the United States and Japan. The companies said at a news conference that they were waiting for government approval before the venture's operations start. The joint venture, Hitachi Chemical DuPont MicroSystems LLC, is equally owned by DuPont and Hitachi Chemical's sales subsidiary in the United States. The joint venture is capitalised at $14 million and will take over DuPont's liquid polyimide business in the United States and European Union countries, a joint statement said. The new joint venture will have a wholly owned subsidiary in Japan, the statement said. The Japanese unit will take over the liquid polyimide business of Hitachi Chemical in Japan and of DuPont's units in Japan and other Asian countries.