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News Releases 2001
August 14, 2001
MCC Announces Transfer of Shares of Optical Disk Manufacturing Subsidiary
Mitsubishi Chemical Corporation
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 : MC Infonics Ireland Limited
President : Michael J. Meehan
Date Established : January 2, 1997
Purchase Price : 7.2 million Irish pounds
Headquarters : Ireland
Shareholder : Mitsubishi Chemical (100%)
Employment : 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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