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| February 27, 2013 |
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| Mitsubishi Chemical submitted an offer to buy Compound activities of Tessenderlo Group |
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| Mitsubishi Chemical Corporation |
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Mitsubishi Chemical Corporation (MCC; Head office: Chiyoda-ku, Tokyo; President: Hiroaki Ishizuka), a subsidiary of Mitsubishi Chemical Holdings Corporation (MCHC; Head office: Chiyoda-ku, Tokyo; President: Yoshimistu Kobayashi) announced today that it has submitted an offer to buy Compound activities of Tessenderlo Group (NYSE Euronext: TESB; Head office: Brussels, Belgium; CEO: Frank Coenen), a worldwide specialty company.
The employee representatives of the companies making up the Tessenderlo group’s Compounds business unit have been informed that the information and consultation procedures will be launched. This transaction is subject to merger control approval.
This acquisition project is in line with the MCHC Group’s medium-term management plan, APTSIS 15 (FY2011-2015). As one of the ‘growth business’ in the portfolio, performance polymers business has been expanding its manufacturing and sales of thermoplastic elastomers, cross-linked polymers, adhesive polymers, and conductive polymers for the automobiles, medical care, food, and building industries in Asia, the US, and Europe.
Tessenderlo Group’s Compounds business unit has nearly 50 years’ experience and extensive know-how in formulation and production of thermoplastic elastomers and PVCs for applications in the building, automotive, cabling, and footwear industries, making it market leader in this sector.
Together with their business, MCC intends to further expand its business, including marketing and sales activities to European automotive industry, enriching product portfolio in thermoplastic elastomers and PVC compounds, and strengthening global business platform by strategically adding manufacturing and sales in Europe.
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| For further information, please contact |
Public Relations and Investor Relations Office,
Mitsubishi Chemical Holdings Corporation
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| Tel: [+81] (0)3-6748-7140 |
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| (1)Tessenderlo Group’s Compound Business |
| Location |
4 Manufacturing and sales in France (2), Poland, and China
1 R&D in Belgium |
| BU General Manager |
Etienne Weil |
| Net sales |
0.1 billion EUR (January 2011 – December 2011) |
| Employees |
about 360 |
| Line of business |
Thermoplastic elastomers and PVC compounds |
| (2)Tessenderlo Group |
| Establishment |
1919 |
| Location |
Troonstraat, 130, rue du Trône BE-1050 Brussels, Belgium |
| CEO |
Frank Coenen |
| Net sales |
2.1 billion EUR (January 2011 – December 2011) |
| Employees |
about 7,500 |
| Line of business |
A worldwide specialty company, focused on food, agriculture, water
management and on valorizing bio-residuals. |
| Website |
http://www.tessenderlo.com/ |
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