|
Kuraray Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President:
Yasuaki Wakui; below, "Kuraray") and Mitsui Chemicals, Inc. (Headquarters: Minato-ku,
Tokyo; President: Kenji Fujiyoshi; below, "Mitsui Chemicals") agreed on July 15
to terminate their relationship with regard to Kyodo Monomer Co., Ltd. (below,
"Kyodo Monomer"). Kyodo Monomer was established through a fifty-fifty joint venture
of Kuraray and Mitsui Chemicals, to manufacture methyl methacrylate (MMA) monomer,
a raw material for the production of methacrylic resin (Highly transparent, light
in weight, and strong, methacrylic resin is widely used in LCD light guides and
other optical products, as well as in auto parts and a number of other applications).
Kuraray will transfer to Mitsui Chemicals its entire stock holding in Kyodo Monomer,
which will become a wholly owned subsidiary of Mitsui Chemicals. Background In
1988, Kyodo Gas Chemical Co., Ltd.(Kyodo Gas Chemical Co., Ltd. merged with Kuraray
Co., Ltd. in 1989) and Mitsui Toatsu Chemicals, Inc.(In 1997 Mitsui Toatsu Chemicals,
Inc. merged with Mitsui Petrochemical Industries, Ltd. to become Mitsui Chemicals,
Inc.) and established Kyodo Monomer as an equally funded joint venture. Kyodo
Monomer commenced operations in 1991, and produced MMA monomer for the next 14
years. Date of stock transfer to Mitsui Chemicals
:September 30, 2005
Additional Information : Kyodo Monomer Co., Ltd.
(Data as of July 15, 2005)
|
Polymer
|
Present
| | Business activities
| manufacturing and sale of methyl methacrylate monomer |
| Headquarters | Minato-ku,
Tokyo | | Capitalization | ¥400
million | | Ownership
| Kuraray, 50%; Mitsui Chemicals, 50% |
| Number of employees | Toshikazu Tanaka
(also vice-president of Mitsui Chemicals) |
| Manufacturing facilities | 20 (all seconded
from Mitsui Chemicals) | | Capitalization | (1)
Location of plant : Takaishi city, Osaka
(on the site of Mitsui Chemicals' Osaka Works)
(2) Production capacity : 40,000 tons per year
| | Source:
Kuraray Co., Ltd. |
