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August 14, 2001 |
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MCC Announces Transfer of Shares of Optical
Disk Manufacturing Subsidiary |
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Mitsubishi Chemical Corporation |
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Mitsubishi Chemical Corporation recently agreed to transfer its shares of MC Infonics
Ireland Limited (MCII) to CMC Magnetics Corporation, a reflection of Mitsubishi
Chemical's changing business strategy that focuses on flexibility and efficiency.
MCII manufactures CD-R and CD-RW and is a wholly-owned subsidiary of Mitsubishi
Chemical.
Mitsubishi Chemical established MCII in 1997 as its CD-R and CD-RW manufacturing
base in Europe, reflecting the company's global efforts to expand its optical
recording media business. Since that time, Mitsubishi Chemical has reevaluated
its business priorities to focus on establishing a flexible sourcing and sales
structure that is responsive to market needs and cost efficiency. Transferring
the shares will help both Mitsubishi Chemical and CMC Magnetics to meet their
current business goals.
Mitsubishi Chemical Group has been aggressively pursuing a unified optical recording
media business under Mitsubishi Chemical Media Co. By reorganizing existing business
structures and entering agreements with non-Group companies, Mitsubishi Chemical
intends to reinforce the strong foundation of its optical recording media business.
Mitsubishi Chemical is confident that its evolving business strategy will further
increase the profitability of its optical recording media business.
Mitsubishi Chemical Corporation (Kanji Shono, President) is headquartered in Chiyoda-ku,
Tokyo and MC Infonics Ireland Limited (Michael J. Meehan, President) is headquartered
in Ireland. CMC Magentics Corporation (Bob M.S. Wong, Chairman) is headquartered
in Taiwan.
Overview of MC Infonics Ireland Limited:
Company name |
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MC Infonics Ireland Limited |
President |
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Michael J. Meehan |
Date Established |
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January 2, 1997 |
Purchase Price |
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7.2 million Irish pounds |
Headquarters |
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Ireland |
Shareholder |
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Mitsubishi Chemical (100%) |
Employment |
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about 120 employees |
For further information, please contact |
Public Relations Department, |
Mitsubishi Chemical Corporation |
Tel: [+81] 3-3283-6254 |
CEO Office, |
Mitsubishi Chemical Media Co., Ltd. |
Tel: [+81] 3-5484-3925 |
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