Mitsubishi Plastics, Inc. (Head Office: Chuo-ku, Tokyo; President Hiroshi Yoshida) and Quadrant AG (Head Office: Switzerland), the world’s largest engineering plastic products manufacturing company, have decided to merge Nippon Polypenco Limited and Quadrant EPP Japan Ltd., their respective subsidiary companies for the engineering plastic products business in Japan, as per July 1, 2011.  Both Mitsubishi Plastics and Quadrant will position the newly merged company, Quadrant Polypenco Japan Ltd. as reference company for their business in Asia and cope with strategic expansion of the business in the Asian market where substantial growth is expected to continue in the future.

1. Background
In May 2009, Mitsubishi Plastics and the founders of Quadrant have established AQUAMIT B.V., a joint holding company, and made Quadrant its subsidiary company  as part of a strategic partnership for the global development of the engineering plastic products business.  With investing into Quadrant Mitsubishi Plastics has positioned itself in this growing industry, and now a further step was completed in this strategy with the unifying of  Nippon Polypenco which develops its business centering on nylon products and polyacetal products and Quadrant EPP Japan that promotes business primarily with ultra high molecular weight polyethylene products as per July 1 this year. With this merger it is expected to accelerate the expansion in the Asian market where substantial growth is anticipated in the future.

2. Objectives of the unification
(1) To position the newly created entity as a reference company  for the manufacture of engineering plastic products in Asia and the development of the engineering plastics industry in Japan and Asia.
(2) To increase growth through technology exchange, the pooling of research and development activities including the capabilities of the Mitsubishi Chemical Holdings group, and the exploiting of synergies in commercial development and distribution.

3. Method for unification
Unification by way of absorption of Quadrant EPP Japan by Nippon Polypenco Ltd., as provided for under the Company Act of Japan.

 

4. Outline of the unified company

Company name	Quadrant Polypenco Japan Ltd.
Location of head office	1-2-2 Nihonbashihongokucho, Chuo-ku, Tokyo
Paid-in capital	Yen 240 million
Investment share	Quadrant Group   62% Mitsubishi Plastics, Inc.  38%
Date of merger	July 1, 2011
Representatives	President　Shigeya Oishi Vice- president　Shigemi Moriyama
Employee force	Approx. 160
Sales amount	Approx. Yen 7 billion
Line of business	Manufacture and sale of engineering plastic products
Manufacturing sites	Hiratsuka (Kanagawa) and Sanmu (Chiba)
Business offices	Tokyo, Osaka, Nagoya, Fukuoka, and Hiroshima

●Outline of unifying companies
Nippon Polypenco Limited

Address	1-2-2 Nihonbashihongokucho, Chuo-ku, Tokyo
Representative	Shigeya Oishi
Paid-in capital	Yen 240 million
Sales amount	Approx. Yen 6 billion (for the term ending in Dec. 2010)
Product line	Nylon products, polyacetal products, and others
Manufacturing site	Hiratsuka (Kanagawa)
Business offices	Tokyo, Osaka, Nagoya, Fukuoka, and Hiroshima

Quadrant EPP Japan Ltd.

Address	2-18-10 Takanawa, Minato-ku, Tokyo
Representative	Shigeya Oishi
Paid-in capital	Yen 78 million
Sales amount	Approx. Yen 1.1 billion (for the term ending in Dec. 2010)
Product line	Ultra high molecule weight polyethylene products and others
Manufacturing site	Sanmu (Chiba)
Business offices	Tokyo

 

 

■Inquires regarding this material should be directed to the
	Public Relations Section, General Administration Dept., Mitsubishi Plastics Inc. TEL: +81-3-3279-3800