MORESCO Corporation cancelled the acquisition of die-casting oil and hot forging lubricant manufacturing and sale business of Nicca Chemical Co., Ltd..
November 01, 2013 at 12:00 am EDT
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MORESCO Corporation (TSE:5018) entered into a basic agreement to acquire die-casting oil and hot forging lubricant manufacturing and sale business of Nicca Chemical Co., Ltd. (NSE:4463) on November 1, 2012. In addition, MORESCO will purchase raw materials continuously from Nicca Chemical for a period of 8 years. The conclusion of the contract is expected to occur on January 31, 2013. As of May 1, 2013, Die-Casting Oil and Hot Forging Lubricant Manufacturing and Sale Business reported total assets of ¥20 million.
As on May 1, 2013, MORESCO Corporation (TSE:5018) entered into a contract to acquire die-casting oil and hot forging lubricant manufacturing and sale business of Nicca Chemical Co., Ltd. (NSE:4463) for ¥1.4 billion in cash. As on May 24, 2013, MORESCO Corporation has taken a loan of ¥1.4 billion for funding the acquisition. The business generated sales of ¥1.03 billion for the year ended March 31, 2012. The Board of MORESCO resolved the deal on May 1, 2013. The deal is expected to close on August 31, 2013.
MORESCO Corporation (TSE:5018) cancelled the acquisition of die-casting oil and hot forging lubricant manufacturing and sale business of Nicca Chemical Co., Ltd. (NSE:4463) on November 1, 2013.
NICCA CHEMICAL CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of surfactants. The Company operates in two business segments. The Chemicals segment is engaged in the manufacture and sale of chemicals for textile processing, chemicals for information recording paper, resin raw materials, commercial cleaning chemicals, chemicals for medical and nursing care facilities, and other functional chemicals. The Cosmetics segment is engaged in the manufacture and sale of hair care agent, hair color agent, perm agent, scalp care agent and styling agent. The other business is engaged in the contracted construction of facility works.
MORESCO Corporation cancelled the acquisition of die-casting oil and hot forging lubricant manufacturing and sale business of Nicca Chemical Co., Ltd..
NICCA CHEMICAL CO.,LTD. 
