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| September 26, 2002 |
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| Joint Venture Sales Company in Domestic Terephthalic Acid Business To Be Established |
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Mitsubishi Chemical Corporation
Mitsubishi Gas Chemical Company, Inc. |
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Mitsubishi Chemical Corporation (Head Office: Chiyoda-ku, Tokyo; President: Ryuichi Tomizawa) and Mitsubishi Gas Chemical Company, Inc. (Head Office: Chiyoda-ku, Tokyo; President: Hideki Odaka) had agreed in principle to integrate their domestic terephthalic acid businesses in Japan in April this year and have proceeded with the preparation to establish a joint venture sales company since then. They have recently decided the outline of the establishment of the joint venture company as follows:
Out of its terephthalic acid production facility at Matsuyama Plant, Mitsubishi Chemical will stop operating the production facility with annual production capacity of 140,000 tons at the end of September as scheduled. After the stoppage of the facility, the annual production capacity of terephthalic acid at Matsuyama Plant will become 250,000 tons.
| (1) Company name: |
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Dia Terephthalic Acid Corporation |
| (2) President: |
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Takehiko Kotera (Associate Director, MCC) |
| (3) Head office: |
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2-5-2 Marunouchi, Chiyoda-ku, Tokyo |
| (4) Start of operation: |
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October 1, 2003 |
| (5) Capital: |
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Yen 485 million |
| (6) Equity share: |
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Mitsubishi Chemical: 65%, Mitsubishi Gas Chemical: 35% |
| (7) Line of business: |
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Sales in Japan and export of terephthalic acid |
| (8) Sales volume: |
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About 400,000 tons a year |
| (9) Annual sales: |
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About Yen 30 billion |
| (10) Operation bases: |
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Tokyo |
| (11) Employee force: |
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7 |
| For further information, please contact |
| Public Relations and Investor Relations Dept., |
| Mitsubishi Chemical Corporation |
| Tel: [+81]-(0)3-3283-6254 |
| Public & Investor Relations Div., |
| Mitsubishi Gas Chemical Company, Inc. |
| Tel: [+81]-(0)3-3283-5041 |
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