 |
 |
| May 2, 2002 |
| Mitsubishi Rayon Co., Ltd. |
|
|
| Mitsubishi Rayon Co., Ltd. sells
interests of J/V to the partner |
|
| -- Mitsubishi
Rayon Co., Ltd.(President: Yoshiyuki Sumeragi, Head office:
Tokyo) announced it sold all of its 50% interests in Metco
North America, Inc. (Head office: Philadelphia) and Metablen
Company B.V. (Head office: Vlissingen, the Netherlands) to
its former joint venture partner, ATOFINA (Head office: Paris),
effective March 28. |
|
|
| --As joint ventures
between Mitsubishi Rayon and ATOFINA, Metco North America and
Metablen Company have been engaged in manufacturing and selling
modifiers for polyvinyl chloride mainly for US and European
market. After this transaction, ATOFINA, operating various
businesses in the U.S.A. and Europe, takes 100% ownership of
both companies and continues operating the modifier business. |
|
|
| --Mitsubishi Rayon,
a prominent manufacturer of acrylic resins, is developing plastic
additives business globally with wide range of highly specialized
products manufactured applying its accumulated technologies,
especially, among others, additives for engineering plastics
and polyolefin. |
|
|
| --Furthermore,
Mitsubishi Rayon continues its business of modifiers for polyvinyl
chloride worldwide and focuses on Asian market, particularly
Chinese market where the demand of modifiers has been dramatically
increasing. |
|
|
| For further informaiton,please contact
to: |
|
| Public & Investor Relations Office:tel
+81-3-5495-3100 |
e-mail : koho@mrc.co.jp |
|
|
| [Reference] |
| 1. Outline of Metco North America,Inc. |
|
| Name: |
Metco North America,Inc. |
| Representative: |
Arthur van Nostrand |
| Head Office Location: |
2000 Market Street,
Philadelphia PA 19103-3222 U.S.A. |
| Establishment: |
April,1988 |
| Paid-in capital: |
36,820 USD (thousand) |
| Shareholders: |
| Atofina Chemicals, Inc. |
50% |
| Mitsubishi Rayon Co.,Ltd. |
50% |
|
| Business: |
Manufacture and sale
of plastic modifiers |
| Production capacity: |
26,000 tons / year |
| Employees: |
63 |
|
|
| 2. Outline of MetablenCompany
B. V. |
|
| Name: |
Metablen Company B.
V. |
| Representative: |
Dieter Burkle |
| Head Office Location: |
Haven 9850 Vlissingen-Oost
The Netherlands |
| Establishment: |
June,1989 |
| Paid-in capital: |
36,756 EUR (thousand) |
| Shareholders: |
| Atofina Holding B. V. |
50% |
| Mitsubishi Rayon Co.,Ltd. |
50% |
|
| Business: |
Manufacture and sale
of plastic modifiers |
| Production capacity: |
13,500 tons / year |
| Employees: |
66 |
|
|
| 3. Outline of Atofina S.A. |
|
| Name: |
Atofina S.A. |
| Representative: |
F. Cornelis |
| Head Office Location: |
4-8, cours Michelet,
La Défense 10
92091
PARIS LA DEFENSE cedex FRANCE |
| Establishment: |
April,2000 |
| Business: |
Manufacture and sale
of petrochemicals and commodity polymers,performance
polymers and specialty chemicals |
| Sales: |
17.5 USD (billion)
(As of 2001) |
| Employees: |
72,000(approx.) |
|
|
|
|
