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| September 30, 1997 |
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| INCORPORATION OF A JOINT-VENTURE COMPANY WITH
CARGILL, INC. ABOUT ERYTHRITOL BUSINESS |
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Mitsubishi Chemical Corp.
Cargill, Inc. (USA) |
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Mitsubishi Chemical Corporation (Head Office: Chiyoda-ku, Tokyo; President: Kanji
Shono) has deciMitsubishi Chemical Corp. (Tokyo, Japan, President: Akira Miura)
and Cargill, Inc. (Minneapolis, MN, USA, President: Ernest S. Micek) have agreed
to establish a joint venture in USA for the manufacture and marketing of erythritol,
a low sweetener.
Erythritol is a kind of sugar alcohol, having sweetness lower than that of sugar
but calorie outstandingly lower than other sugar alcohols, such as sorbitol, maltitol,
etc. Erythritol was introduced into the Japanese market in 1990 by Mitsubishi
Chemical Foods Co., Ltd. (wholly owned by Mitsubishi Chemical Corp.) and Nikken
Chemicals Co., Ltd., and since that time, the demand has been rapidly increasing
mainly in the beverage uses, besides applications for confectionery like candies,
chocolate.
While meeting the brisk domestic demand in Japan, Mitsubishi Chemical Corp. has
been negotiating with Cargill, Inc., one of the largest US manufacturers of D-glucose,
from the aspects of taking necessary means for meeting the prospective US demand
as well as securing a stable supply source of D-glucose as the major starting
material. Now, both the companies have come to an agreement on the US location,
the capital participation, and other important matters for the project.
A new company provisionary called as "MC sweet" is to be supplied with
the know-how on the manufacturing technology and the marketing development from
Mitsubishi Chemical Corp., and with the starting material, utilities, labor power,
etc. from Cargill, Inc., and will start the plant construction within the premise
of Cargill, Inc. in Blair, Nebraska, in October, 1997 with the capacity of 20,000t/y
in order to start the manufacture by April, 1999.
Incidentally, the marketing of the product from the new joint venture shall be
handled by Cargill, Inc. in USA, and by Mitsubishi Chemical Corp. in Asia and
Japan, through their the local agents. An outline of the new company, etc. is
described in the attached sheet.
| For further information, please contact |
| Mitsubishi Chemical Corp., |
| Public Relation and Surveying Department, |
| Tel: [+81] 3-3283-6274 |
| Cargill, Inc. (Japan), |
| Staff for Public Information |
| Tel: [+81] 3-3217-0640 |
| AN OUTLINE OF A NEW CORPORATION |
| 1.Name: |
MC sweet (provisional) |
| 2.Capitalization: |
Approximately $ 20 million |
| 3.Participation: |
50/50 by Mitsubishi Chemical (USA) and Cargill,
Inc. |
| 4.Headquarter: |
Blair, Nebraska, USA |
| 5.President: |
Ken-ichiro Kakihara (GM, Functional Chemical Co.,
Mitsubishi Chemical Corp.) |
| 6.Business operation: |
Worldwide manufacture and marketing of erythritol |
| An Outline of Erythritol Manufacturing Facilities |
| 1.Production capacity: |
20 thousand tons/year or more |
| 2.Plant location: |
In the premise of a Cargill plant located in Blair,
Nebraska, USA |
| 3.Construction cost: |
$ 50 million |
| 4.Construction started: |
October, 1997 |
| 5.Plant completed: |
April, 1999 |
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