Kuraray : GC, and Sumitomo Corporation Holds Opening Ceremony for a joint venture company in Thailand
July 17, 2018 at 05:52 am EDT
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July 17, 2018
Kuraray Co., Ltd.
Kuraray Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President: Masaaki Ito, 'Kuraray'), PTT Global Chemical Public Company Ltd.(Head office: Bangkok, Thailand; President & CEO: Supattanapong Punmeechaow, 'GC') and Sumitomo Corporation(Head office: Chuo-ku, Tokyo; Representative Director, President & Chief Executive Officer: Masayuki Hyodo, 'Sumitomo'), on July 11, 2018, held an opening ceremony for a joint venture company, Kuraray GC Advanced Materials Co., Ltd. ('Kuraray GC Advanced Materials') in Thailand.
The opening ceremony was attended by executives from the Kuraray Group, GC Group, and Sumitomo Group. It took place at the Energy Complex, Bangkok, in Thailand, on July 11, 2018.
At the ceremony, attendees expressed their high expectations for this project in Thailand. Kuraray's President Ito remarked, 'It is our pleasure to operate the company with GC which is a diversified and wide-range petrochemical businesses, including manufacturing and distribution of upstream, intermediate, and downstream petrochemical products and Sumitomo which is a Global Trading Company and has strong business ground in Thailand and Southeast Asia.' GC's President Supattanapong commented, 'It has been a very long journey to achieve this joint venture. Over the past three years, our three companies have been harmonizing together and put tremendous effort into making this project happen.' and Sumitomo's Representative Director, Executive Vice President Fujita said, 'We at Sumitomo Corporation intend to offer our full support, together with Kuraray and GC to ensure the success of this Joint Venture Company.'
With Hemaraj Eastern Industrial Estate (Map Ta Phut Complex), Rayong in Thailand, as the candidate of the production site, the Company-Kuraray GC Advanced Materials Co., Ltd.-is scheduled to manufacture and sell High Heat Resistant Polyamide-9T (PA9T) and Hydrogenated Styrenic Block Copolymers (HSBC).
[Attachment]Executives from the Kuraray Group, GC Group,and Sumitomo Group
Reference
Outline of Kuraray GC Advanced Materials
(1)Company Name
Kuraray GC Advanced Materials Co., Ltd.
(2)Headquarters
555/1 Energy Complex, Building A, 6th Floor, Vibhavadi Rangsit Road, Chatuchak, Chatuchak, Bangkok 10900
(3)Representative
Hiroshi Yamamoto
(4)Businesses Description
Manufacturing and sales of Butadiene derivatives
(5)Capital
10million baht (at time of establishment)
(6)Date of Establishment
June 19, 2018
(7)Shareholders and shareholding ratio
Kuraray Co., Ltd.: 53.3%*
PTT Global Chemical Public Company Ltd.: 33.4%
Sumitomo Corporation: 13.3%*
*Indirect shareholdings via intermediate holding companies to be established with the aim of investing in the joint venture
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Kuraray Co. Ltd. published this content on 17 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 July 2018 09:51:06 UTC
Kuraray Co., Ltd. is the world's leader in the manufacturing and marketing of chemical products, resins and synthetic fibers. Net sales break down by family of products as follows:
- chemical and resin (45.6%): functional resins and films, elastometers, thermoplastics, adhesives, fine chemistry products, etc. primarily for cosmetic products, televisions and mobile phones screens, foot packaging and paper manufacturing;
- fibers and textile products (29.8%): synthetic fibers and man-made leather, polyester, nonwoven textile products, resins, etc. sold under the brands Kuralon, Clarino Vectran and Kuraflex;
- functional materials (18.8%): methacrylic resin, medical chemicals, carbon materials, etc.;
- other (5.8%): primarily dental treatment and water purifying products.
At the end of 2019, the group had 52 production worldwide.
Net sales break down geographically as follows: Japan (27.1%), China (13.8%), Asia (12.3%), Europe (23.6%), the United States (18.5%) and other (4.7%).
KURARAY CO., LTD 
