Mitsubishi Plastics, Inc.

 

Aquamit B.V. Becomes Mitsubishi Plastics’ Wholly-Owned Subsidiary

 

We announce that Mitsubishi Plastics, Inc. (Head office: Chiyoda-ku, Tokyo; President Takumi Ubagai, hereinafter ‘MPI’) has bought 50% of the issued and outstanding stock in Aquamit B.V. (hereinafter ‘Aquamit’) from the Quadrant Founders Group, and Aquamit has become MPI’s wholly-owned subsidiary, as of May 21, 2013.

Aquamit is a holding company of Quadrant AG (hereinafter ‘Quadrant’) and was established jointly by MPI and the Quadrant Founders Group in 2009.  Quadrant has been running its business including engineering plastics products (hereinafter ‘EPP’) across the globe.  When it comes to EPP, Quadrant accounts for a leading share in the world, and the product has a strong competitiveness as an application for industrial machinery parts.  It is expected that demand for EPP will grow in the global regions, mainly in emerging economies.

MPI established Aquamit, a jointly owned holding company, with the Quadrant Founders Group in 2009, and Aquamit reached 100% ownership of Quadrant by public tender offer.  Since then, MPI has been devoting itself to expand the business of Quadrant together with the Quadrant Founders Group. As a result, Quadrant has been showing a robust performance even under a severe economic environment such as demand downturn.  Quadrant is expected to make a step forward for further growth in the regions including Asian emerging countries.  Against this backdrop, MPI has bought the remaining 50% of Aquamit’s stock owned by the Quadrant Founders Group to have it become MPI’s wholly-owned subsidiary, for the purpose of Quadrant’s business expansion and building further on the significant synergies achieved since 2009 together with MPI Group and also with Mitsubishi Chemical Holdings Group.

 

（Reference）

【 Summary of Aquamit 】 as of May 21st , 2013
Corporate Name: Aquamit B.V.
Representative:  Shigeyoshi Murase
Head Office:      Amsterdam, The Netherlands
Paid-in-Capital:  EUR 2,598,000 (JPY 330 million)
Stockholder:      Mitsubishi Plastics, Inc. (100%)

【 Summary of Quadrant 】
Corporate Name:  Quadrant AG
Representative:   Steve Yurich
Head Office:       Lenzburg, Switzerland
Paid-in-Capital:   CHF 27,503,000 (JPY 2,800 million)
Stockholder:      Aquamit B.V. (100%)
Line of Business: Engineering plastics products, Fiber plastics composite materials, Other production and marketing
Consolidated Sales:CHF 715 million (JPY 71 .5 billion)   (as of December 31, 2012)
Network:          20 countries, 40sites in the global regions
Employees:       2,420 (Consolidated)   (as of December 31, 2012) 

 

< media contact >
Public Relations and Investor Relations office,
Mitsubishi Chemical Holdings Corporation.
TEL: +81-3-6748-7140