Mitsubishi Chemical Corporation (MCC; Head office: Chiyoda-ku, Tokyo; President: Masayuki Waga) today announced that it has completed its acquisition of the PVC compound business of Welset Plast Extrusions Private Limited in India (refer to the press release issued on June 21, 2018) and plans to construct a new facility to manufacture thermoplastic elastomer for automotive interior components and other products at MCPP India Private Limited*. Production is scheduled to begin by the end of fiscal 2019.

Applications for MCC’s performance polymer products continue to expand in India’s automotive industry, and growth is expected to remain steady in the future. MCC currently outsources the manufacturing of thermoplastic elastomers in India. The acquisition of Welset Plast Extrusions’ PVC compound business, and the construction of the new production facility, will allow MCC to upgrade its performance polymer supply system to meet the increasing demand.

MCC has proactively pursued mergers and acquisitions and investment in the performance polymer business, expanding globally in regions such as Asia/Pacific, Europe, and North America. Currently its network includes 28 locations in 16 countries, and MCC positions MCPP India as its Asia/Pacific medical PVC compound manufacturing site. In addition, it will accelerate further global development by expanding the scale of manufacturing of its thermoplastic elastomers for automobiles.

*MCC acquired Arparn Plast Compound Private Limited (PVC compound business) after a demerger from Welset Plast Extrusions Private Limited, and will chang its name to MCPP India Private Limited after the acquisition was formally completed.

**Thermoplastic elastomers are materials that have the characteristics of both rubber and plastic. They are used in automobile interior components, pen grips, and other products.

Outline of MCPP India Private Limited
Locations       :  Mumbai (head office), Gurugram (regional office), and Silvassa (plant), India
Representative:  Harumoto Goto
Capital           :   229,298,180 rupees [MCC: 99.9%] (approximately 370 million yen)
Line of business:  Manufacture and sale of PVC compounds for medical use, electric wires and cables, and thermoplastic elastomers for automobiles
Employees      :  Approximately 150 (as of March 1, 2019)