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| May 29, 2009 |
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| Regarding Restructuring of Petrochemicals Businesses |
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| Mitsubishi Chemical Corporation |
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Mitsubishi Chemical Corporation ("MCC"; Head office; Minato-ku, Tokyo; President: Yoshimitsu Kobayashi) announced today that MCC has decided to withdraw from caprolactam and styrene monomer businesses in the course of restructuring petrochemicals businesses. MCC will further strengthen competitiveness in petrochemicals businesses by focusing on core businesses. As for the details, please refer to the attached sheet.
The petrochemicals business environment is expected to be increasingly severe, since an intensifying competition against products with inexpensive raw materials manufactured in the Middle East is anticipated in Japan and overseas, and domestic demands in petrochemicals products are decreasing.
Due to the above-mentioned business environment, MCC has recognized that both businesses would not provide long-term value and has decided to withdraw from both businesses: caprolactam - the raw material of nylon6 used for engineering plastic and fiber; and styrene monomer - the raw material of polystyrene resin, ABS resin, EPS and synthetic rubber, although we have implemented various measures to rebuild these businesses until now.
As announced with Royal DSM N.V. today, MCC has started to examine transferring its nylon business to Royal DSM N.V. and being transferred the polycarbonate business of Royal DSM N.V. developed worldwide, particularly in Europe, in order to enhance our polycarbonate business.
MCC will further pursue strengthening its business infrastructure in petrochemicals businesses by focusing on core businesses.
| For further information, please contact |
Public Relations and Investor Relations Department
Mitsubishi Chemical Corporation |
| Tel: +81-(0)3-6414-3730 |
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1. Caprolactam business
Production facility to be shut down
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Caprolactam and cyclohexanone production facilites at Kurosaki Plant
Location: Kitakyushu-shi, Fukuoka
General Manager of Kurosaki Plant: Tatsuo Suzuki |
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| 2) |
Cyclohexanone production facility at Mizushima Plant
Location: Kurashiki-shi, Okayama
General Manager of Mizushima Plant: Yasuhide Ishikawa |
Production facility to be shut down
Scheduled for March 2010
Business overview
| Net sales: |
¥14 billion (FY2008) |
| Production capacity: |
Cyclohexan: 120 kta
Cyclohexanone: 110 kta
Caprolactam: 60 kta |
Note: Produce cyclohexanone with cyclohexan as the raw material; caprolactam with cyclohexanone as the raw material; nylon with caprolactam as the raw material.
2. Styrene monomer business
Production facility to be shut down
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Styrene monomer production facility at Kashima Plant
Location: Kamisu-shi, Ibaraki
General Manager of Kashima Plant: Yasuhiro Kajiwara |
Production facility to be shut down
Scheduled for March 2011
Business overview
| Net sales: |
¥47 billion (FY2008) |
| Production capacity: |
371 kta |
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