Mitsui Chemicals : Signing of Agreement for Business Transfer of Maleic Anhydride and Fumaric Acid
July 03, 2014 at 03:46 am EDT
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Mitsui Chemicals, Inc. ("MCI"), with its Head Office in Tokyo (Tsutomu Tannowa, President & CEO) and Fuso Chemical Co., Ltd. ("Fuso"), with its Head Office in Osaka (Ryota Akazawa, President), announced the signing of an agreement to transfer MCI's organic acids business to Fuso following discussions pursuant to the May 16th announcement regarding the business succession (see note).
Mitsui Chemicals Kashima Works (Kamisu City, Ibaraki Prefecture)
Sales
Approximately 5 billion yen/annual
Transfer amount
Over 1 billion yen including inventories, fixed assets, etc.
(final decision to be made at transfer)
Transfer date
Business rights: October 1, 2014
Production facility: After dismantling of TDI facilities (target: first half of fiscal 2017)
(Mitsui Chemicals will manufacture under contract and supply Fuso with the two products until transfer of production facilities is finalized.)
Note:
May 16, 2014 Release "Agreement for Business Transfer of Maleic Anhydride and Fumaric Acid"
Mitsui Chemicals website: http://jp.mitsuichem.com/release/2014/2014_0516.htm
Fuso Chemical website: http://www.fusokk.co.jp/up/ir/dat1120/file01cEfDf9cDg3.pdf
Signing of Agreement for Business Transfer of Maleic Anhydride and Fumaric Acid (PDF:35.6KB)
Mitsui Chemicals, Inc. specializes in the manufacture and marketing of chemicals products. Net sales break down by product family as follows:
- basic chemicals and fine chemicals products (48.8%): polypropylene, polyethylene, phenols, polyolefins, polyurethane, etc.;
- performance chemicals products (25.5%): elastomers, urethane, polymers, etc. intended in particular for the automotive industry;
- coating materials, films and agrochemicals (14.6%): resins, adhesives, polypropylene films, polyethylene films, industrial films, agrochemicals (insecticides, fungicides, herbicides, etc.) for the food and packaging sectors;
- specialty materials (10.2%): ophthalmic lens materials, photochromic materials, non-woven fibers, dental products, etc. dedicated to the medical and healthcare industry;
- other (0.9%).
Net sales are distributed geographically as follows: Japan (52.2%), China (14.5%), Asia (13.6%), America (11.8%), Europe (7.3%) and other (0.6%).