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| July 24, 2013 |
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Mitsubishi Chemical and Samyang Establish Joint Venture Company
to Manufacture Ion Exchange Resins in Korea
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Mitsubishi Chemical Corporation
Samyang Corporation
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Mitsubishi Chemical Corporation (Head office: Chiyoda-ku, Tokyo; President: Hiroaki Ishizuka) and Samyang Corporation (Head office: Seoul, Korea; President and CEO: Jung Kim) today announced that they have entered into an agreement on basic policies for establishing a joint venture (JV) to manufacture ion exchange resins (IERs) in Korea. Both sides will continue consideration regarding concrete conditions and details.
IERs contain ions with a positive and negative electric charge that are used to remove or separate soluble impurities that cannot be filtered out. IERs are used in a wide range of applications including industrial water treatment at power plants and chemical plants, the manufacture of ultrapure water, and other applications in the food and pharmaceutical industries. Mitsubishi Chemical and Samyang are both planning to sell uniform particle size IERs manufactured by the JV in global markets including burgeoning Asian markets.
A manufacturing plant for uniform particle size IERs at the JV will be built in Gunsan-city, Jelollabuk-do, Korea, and begin operation in May 2015. The manufacturing capacity will be 20,000 m3 per year.
Mitsubishi Chemical will have four IER manufacturing bases worldwide, including the new plant in Korea. Capacities of the three manufacturing bases outside Korea are as follows: the Kurosaki Plant, Fukuoka, Japan (13,000 m3/y), Resindion S.R.L., Italy (100 m3/y), Tai Young Chemicals Co., Ltd., Taiwan (3,500 m3/y).
Moving forward, Mitsubishi Chemical will aim to become a top IERs supplier in Asian, and Samyang will strengthen its operational base in the environmental business division to provide comprehensive solutions for industrial water treatment to its customers. Mitsubishi Chemical and Samyang will continue to cooperate to accomplish their goals.
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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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Public Relations Office
Samyang Corporation
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| Tel: [+88] (0)2-740-7181 |
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| About Ion Exchange Resins |
Ion exchange resins (IERs) are fine (200 - 1200 µ diameter) beads that contain positive and negative electric charges and are used to remove or separate soluble impurities that cannot be filtered out. IERs are used in a wide range of applications including industrial water treatment (demineralization of boiler-feed water*) at power plants and chemical plants, purification of amino acids, the manufacture of ultrapure water, and other applications in sugar refining and the food and pharmaceutical industries.
*calcium, magnesium, etc.
Product names: DIAION™ (Mitsubishi Chemical), TRILITE™ (Samyang) |
| [Outline of JV] |
Company name ：
(tentative) | Samyang Fine Technology Corporation |
| Place： | Gunsan-city, Jeollabuk-do, Korea |
| Capital： | KRW 32 billion
(Approx. JPY 2.7 billion)
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| Stockholder： | Mitsubishi Chemical: 50%
Samyang: 50% |
| Establishment： | December 2013 |
| Line of business： | Manufacture of uniform particle size ion exchange resins |
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| [Outline of Manufacturing Plant] |
| Place： | Gunsan-city, Jeollabuk-do, Korea |
| Capacity： | Uniform particle size ion exchange resins: 20,000 m3/y
(Mitsubishi Chemical takes 10,000 m3/y) |
Investment
amount： | KRW 96 billion
(Approx. JPY 8.1 billion) |
| Commencement of work： | Scheduled for January 2014 |
| Start of production： | Scheduled for May 2015 |
| [Photographs] |
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Manufacturing plant of IERs
(Kurosaki, Japan, Mitsubishi Chemical)
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Uniform particle size IERs |
[Outline of Samyang in Korea] |
| Foundation： | 1924 |
| Headquarters： | Seoul, Korea |
| Capital： | KRW 22.1 billion |
| Representative： | Jung Kim |
| Employees： | Approx. 950 |
| Line of business： | Chemical products, Food materials |
Relationship with
Mitsubishi Chemical： | Jan. 1988
Establishment of Samnam Petrochemical Corporation (Joint venture for manufacturing purified terephthalic acid)
Mar. 1989
Establishment of Samyang Kasei Corporation
(Joint venture for manufacturing polycarbonate)
Jan. 2010
Export of Bisphenol A manufacturing technology
to Samyang Innocem Corporation
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