Matsushita Electric Works Ltd. has said Monday it has agreed with Sweden's Perstorp AB to cooperate on amino molding compounds, a key element in electrical-insulation plastic devices such as power outlets.
Matsushita Electric Works will contribute developmental resources to the alliance and will benefit from Perstorp's production technology. The compounds are highly heat-resistant, enabling use in common plastic items such as tableware.
Perstorp, the world's largest amino molding compound maker, has 24 percent of the global market. Matsushita Electric Works, a unit of Matsushita Electric Industrial Co., is the world's third largest with a market share of 9 percent.