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| January 21, 2004 |
| Mitsubishi Rayon Co., Ltd. |
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| Production of Acrylic Resin Molding
Materials begun in China |
|
Nantong Rayon Chemical Co.,
Ltd., a joint venture between Mitsubishi Rayon and Marubeni
Corp., commenced the commercial production and sale of molding
materials for acrylic resin products at the end of December
2003.
Utilizing leading-edge technology for continuous polymerization
with a high bulk conversion rate, the company supplies high-quality products
to meet fast-growing demand in China for use in vehicles and IT equipments (light-guiding
panels for LCD backlighting, covers for mobile phones and others). The demand
is also strong for use in lenses, household goods, consumer electric and electronic
appliances, and lighting fixtures in China, the principal market for the company.
Mitsubishi Rayon has nurtured its MMA business, which revolves
around methyl methacrylate (MMA) and polymethyl methacrylate (PMMA), and grown
it into a comprehensive and synergistic “MMA chain” operation covering
the whole process from upstream to downstream. We will continue to expand our
business in this field at an even faster pace so as to both maintain our position
as the leading company in Asia, and mount a serious challenge for the position
of No.1 MMA manufacturer in the world. |
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| Outline of Company |
| 1. Name: |
|
Nantong Rayon Chemical Co., Ltd. |
| 2. Address: |
No.1 Guangzhou Road, Nantong Economic & Technological
Development Area, Jiangsu Province, China |
| 3. Establishment: |
September 2002 |
| 4. Paid-in capital: |
US $16 million |
| 5. Equity stakes: |
Mitsubishi Rayon 80%; Marubeni Corp. 20% |
| 6. Line of business: |
Manufacture and sale of acrylic resin molding
materials |
| 7. Production capacity: |
40,000 tons per year |
| 8. Total investment to date: |
US$ 29.5 million |
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| For further information, please contact: |
| Mitsubishi Rayon Co., Ltd. |
| Public & Investor Relations Office: |
| e-mail: koho@mrc.co.jp |
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The contents shown herein are accurate as of the time of posting.
