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| June 19, 2013 |
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| Mitsubishi Chemical completes acquisition of Compound activities from 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 Group (MCHC; Head office: Chiyoda-ku, Tokyo; President: Yoshimitsu Kobayashi) announced today that it has completed acquisition of Compound activities from Tessenderlo Group (NYSE Euronext: TESB; Head office: Brussels, Belgium; CEO: Frank Coenen), a worldwide specialty company. The acquisition comprises five production and marketing & technology service sites in France, Belgium, Poland and China, employing 360 employees.
On February 27 2013, MCC announced its intention to buy Tessenderlo Group’s Compounds business unit. Information and consultation procedures were subsequently successfully completed and merger control approval has been given.
This acquisition project is in line with the MCHC Group’s mid-term management plan, APTSIS15 (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 PVC compounds 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
Mitsubishi Chemical Corporation
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| Tel: [+81] (0)3-6748-7140 |
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| (1) Acquired Compound Business |
| Location | France (2), Belgium, Poland, and China |
| BU General Manager | Etienne Weil |
| Net sales | 0.1 billion EUR (January 2012 – December 2012) |
| Employees | about 360 |
| Line of business | Thermoplastic elastomers and PVC compounds |
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| (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 2012 – December 2012) |
| Employees | about 7,000 |
| 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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