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| February 1, 2007 |
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Establishment of Promotion Purposed Joint Venture Company
for Fuel Use DME (Di-Methyl Ether) |
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Mitsubishi Gas Chemical Company, Inc.
ITOCHU Corporation
Japan Petroleum Exploration Co., Ltd.
Taiyo Oil Company, Limited
TOTAL Di-Methyl Ether Japan Ltd.
Toyota Tsusho Corporation
JGC Corporation
Mitsubishi Heavy Industries, Ltd.
Mitsubishi Chemical Corporation |
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In order to promote Di-Methyl Ether (DME) expected as the new generation clean fuel, the following nine companies, Mitsubishi Gas Chemical Company, Inc. (Headquarters: Chiyoda-ku, Tokyo, President: Hideki Odaka), ITOCHU Corporation (Headquarters: Minato-ku, Tokyo, President and CEO: Eizo Kobayashi), Japan Petroleum Exploration Co., Ltd. (Headquarters: Shinagawa-ku, Tokyo, President and CEO: Yuji Tanahashi), Taiyo Oil Company, Limited (Headquarters: Chiyoda-ku, Tokyo, President: Yutaka Oka), TOTAL Di-Methyl Ether Japan Ltd. (Headquarters: Minato-ku, Tokyo, President: Hubert de Mestier), Toyota Tsusho Corporation, (Headquarters: Nagoya-shi, President: Junzo Shimizu), JGC Corporation (Yokohama Headquarters: Yokohama-shi, Chairman and CEO: Yoshihiro Shigehisa), Mitsubishi Heavy Industries, Ltd. (Headquarters: Minato-ku, Tokyo, President: Kazuo Tsukuda) and Mitsubishi Chemical Corporation (Headquarters: Minato-ku, Tokyo, President: Ryuichi Tomizawa) have agreed to establish a Joint Venture Company for DME production, and to construct an 80,000T/A DME production plant within Mitsubishi Gas Chemical Company Niigata Factory (Niigata-shi). The plant operation is scheduled to start from June 2008, and its production capacity is expandable to a 100,000T/A. JGC is in charge of the construction of this new production plant, and Mitsubishi Gas Chemical will be delegated to plant operation of DME production.
Currently, the main use for DME in Japan is aerosol propellant for cosmetics and paints, however, it has already been commercialized in China for LPG substitute because of its similar properties to those of LPG. It is also expected to be the future clean energy for fuel use, since it does not cause soot (Particulate Matters; PM) as diesel substitute, and could easily be produced from natural gas and coal etc. via methanol.
Japanese government has mentioned DME promotion to be an important matter in their ‘Basic Energy Plan’, and has supported technology developments for DME production and application. These nine participants will be developing further promotion in line with this national policy.
These nine participants will make efforts for future commercialization through promotion activities to apply DME produced from this new plant to boilers, power plants (including fuel cells), automobiles, etc.
Joint Venture Company Outline attached.
| For further information, please contact |
| Mitsubishi Gas Chemical Company, Inc. |
| Corporate Communications Division, Nishimura |
| Tel: [+81]-(0)3-3283-5041 |
| ITOCHU Corporation |
| Corporate Communications Division, Yamanaka |
| Tel: [+81]-(0)3-3497-7293 |
| Japan Petroleum Exploration Co., Ltd |
| Media and Investor Relations Dept., Hasegawa |
| Tel: [+81]-(0)3-5461-7413 |
| Taiyo Oil Company, Limited |
| CSR DEPARTMENT, Hayashi |
| Tel: [+81]-(0)3-5521-9862 |
| TOTAL Di-Methyl Ether Japan Ltd. |
| President, Hubert de Mestier |
| Tel: [+81]-(0)3-5562-5223 |
| Toyota Tsusho Corporation |
| Corporate Communications Office, Konishi |
| Tel: [+81]-52-584-5013 |
| JGC Corporation |
| PR & IR Department, Mizuno |
| Tel: [+81]-45-682-8026 |
| Daiya PR |
| (in charge of public relations for Mitsubishi Heavy Industries, Ltd.), Ikuno |
| Tel: [+81]-(0)3-6716-5277 |
| Mitsubishi Chemical Corporation |
| Public Relations and Investor Relations Department |
| Tel: [+81]-(0)3-6414-3730 |
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| 1. Name: |
Fuel DME Production Co., Ltd. |
| 2. President: |
to be assigned |
| 3. Headquarters: |
Niigata-shi, Niigata |
| 4. Capital: |
¥ 465,000,000 |
| 5. Shareholders: |
| Mitsubishi Gas Chemical Company, Inc. |
29.15% |
| ITOCHU Corporation |
13.25% |
| Japan Petroleum Exploration Co., Ltd |
12% |
| Taiyo Oil Company, Limited |
10% |
| TOTAL Di-Methyl Ether Japan Ltd. |
10% |
| Toyota Tsusho Corporation |
10% |
| JGC Corporation |
5.3% |
| Mitsubishi Heavy Industries, Ltd. |
5.3% |
| Mitsubishi Chemical Corporation |
5% |
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| 6. Description of Business: |
Production of DME |
| 7. Date of Establishment: |
April 2007 expected |
| 8. Production Start: |
June 2008 expected |
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