Mitsubishi Rayon Co., Ltd.
Mitsubishi Chemical Corporation

Mitsubishi Rayon Co., Ltd. (Head office: Chiyoda-ku, Tokyo, President: Hitoshi Ochi, hereinafter “MRC”) has entered into a merger agreement by which MRC will purchase all Dia-Nitrix Co., Ltd. (Head office: Minato-ku, Tokyo, President: Yasunori Kamei, hereinafter “DNX”) shares held by Mitsubishi Chemical Corporation (Head office: Chiyoda-ku, Tokyo, President: Hiroaki Ishizuka, hereinafter “MCC”) on March 31, 2013. DNX, which is a joint venture company of MCC and MRC, will become a wholly owned subsidiary of MRC. Following the merger, MRC’s DNX Business Bloc will be reorganized into the AN Business Bloc (and within that, the AN Division).

      The merger will enable MRC to comprehensively enhance its competitiveness by strengthening its ability to accurately and consistently meet R&D, manufacturing and customer needs across the entire acrylonitrile (AN) chain. The AN chain extends from acrylic fibers (which are manufactured from AN) and carbon fibers and composite materials (which are being positioned as a core next-generation business) to carbon fiber products that include golf club shafts.

      DNX's AN by-product-related intermediary function will boost the competitiveness of MRC’s core methyl methacrylate (MMA) monomer business. In addition, DNX's wastewater treatment technologies utilizing polymer flocculants will be used to generate synergy in MRC’s hollow fiber membrane-related Aqua Business operations.
 

Overview of Dia-Nitrix Co., Ltd.
Foundation: July 2001
Representative: Yasunori Kamei (President & CEO)
Location of Head Office: 1-6-10 Shiba Minato-ku Tokyo
Locations of Plants: Mizushima, Otake, Kurosaki, Yokohama, Toyama
Paid-in Capital: 2,000 million JPN Yen
Shareholding Ratio: Mitsubishi Rayon Co., Ltd. (65%), Mitsubishi Chemical Corporation (35%)
Sales: 47,174 million JPN Yen(fiscal 2011)
Business Description: Manufacture, sale and R&D of acrylonitrile (AN), acrylamide (AAM) and acrylamide polymer (PAAM) as well as AN and AAM manufacturing catalysts
Employees: 332 (as of February 2013)