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| May 28, 2015 |
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Establishment of a Joint Venture for Operation of Unified Naphtha Cracker
in Mizushima
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Mitsubishi Chemical Holdings Corporation
Asahi Kasei Corporation
Mitsubishi Chemical Holdings Corporation (Head office: Chiyoda-ku, Tokyo; President: Hitoshi Ochi) and its subsidiary Mitsubishi Chemical Corporation (Head office: Chiyoda-ku. Tokyo; President: Hiroaki Ishizuka), and Asahi Kasei Corporation (Head office: Chiyoda-ku, Tokyo; President: Toshio Asano) and its subsidiary Asahi Kasei Chemicals Corporation (Head office: Chiyoda-ku, Tokyo; President: Yuji Kobayashi) have concluded an agreement to establish an equally held joint venture for the operation of a unified naphtha cracker in Mizushima, based on the agreement announced in a press release dated February 25, 2014.
The naphtha crackers that Mitsubishi Chemical and Asahi Kasei Chemicals have in Mizushima are currently operated by Nishi Nippon Ethylene LLP. After the start-up of the joint venture on April 1, 2016, Nishi Nippon Ethylene will perform the removal and disposal of equipment as required due to unification of the naphtha crackers.
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Name: |
Asahi Kasei Mitsubishi Chemical Ethylene Corporation |
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Start of operation: |
April 1, 2016 |
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President: |
Under study |
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Head office: |
Tokyo, Japan |
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Paid-in capital: |
¥2 billion (Shareholding ratio: Mitsubishi Chemical 50%, Asahi Kasei Chemicals 50%) |
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Sales: |
Approximately ¥160 billion |
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Business line: |
Manufacture of basic petrochemicals for sale to its parent companies;
procurement of feedstocks |
For further information, please contact:
Public Relations and Investor Relations Office
Mitsubishi Chemical Holdings Corporation
Tel: [+81] (0)3-6748-7140
Corporate Communications
Asahi Kasei Corporation
Tel: [+81] (0)3-3296-3008
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