 |
|
|
 |
|
|
|
|
| September 2, 1999 |
|
| Establishment of New Joint Venture for Vinyl
Chloride Business |
|
Mitsubishi Chemical Corporation
Toagosei Co., Ltd. |
|
Mitsubishi Chemical Corporation (President: Kanji Shono, headquartered in Chiyoda-Ku,
Tokyo) and Toagosei Co., Ltd. (President: Bunshirou Fukuzawa, headquartered in
Minato-ku, Tokyo) reached basic agreement on the consolidation of vinyl chloride
business and decided to start a new joint venture. Both companies will proceed
with the studies of the details to be able to establish the new company starting
April 2000, unless any special problems regarding the Antitrust Law exist.
Since May 1998, both companies have been swapping their vinyl chloride polymer
utilizing their production sites in east and west part of Japan to rationalize
the logistic cost as well as other joint efforts for the rationalization. However,
the business environment of vinyl related products has been more stringent year
by year and the profitability is not satisfactory due to the long time stagnancy
of domestic demand and keen international competition.
Under such circumstances, both companies agreed that it is indispensable to fully
consolidate the business by the establishment of joint production and sales company
for strengthening sales, R&D and technical service activities and to restructure
production system for the cost reduction. The gist of the agreement is as follows:
| 1. Name of the new company: To be decided
later |
| 2. President: |
Will be sent from Mitsubishi Chemical Corporation |
| 3. Start-up date: |
April 1, 2000 (planned) |
| 4. Capital: |
Not yet decided |
| 5. Capital share: |
Mitsubishi Chemical |
60% |
|
Toagosei |
40% (planned) |
| 6. Contents of the business: |
|
Production, sales and R&D of electrolytic products,
vinyl chloride monomer (VCM), vinyl chloride polymer (PVC) |
| 7. Sales: |
 30
billion/year (estimate) |
| 8. Number of employees: about 180 (estimate) |
| For further information, please contact |
| Administration Dept., |
| Toagosei Co. Ltd. |
| Tel: [+81] 3-3597-7214 |
| Public Relations Dept., |
| Mitsubishi Chemical Corporation |
| Tel: [+81] 3-3283-6274 |
| Existing plant capacity as of the end of April 1999 is as follows: |
| |
Mitsubishi Chemical |
Toagosei |
| PVC |
Mizushima 100,000t/
Yokkaichi 127,000
[8,000 will be stopped in March,2000]
|
Kawasaki Organic Chemical 203,000 t/ |
| VCM |
Mizushima 300,000
(Kashima Vinyl Chloride Monomer 600,000)
|
(Central Chemical 130,000) |
Electrolysis
(as NaOH) |
Mizushima 116,000
Kurosaki 35,000
(Kashima Chloride&Alkali 354,000)
|
Tokushima 166,000
Nagoya 73,000
(Central Chemical 67,000) |
| All plants underlined will be transferred to the new joint venture. |
|
|
|
 |
|
|
|
