On June 1, 2005, Mitsubishi Rayon Polymer Nantong Co., Ltd. (a wholly owned subsidiary of Mitsubishi Rayon Co., Ltd.) began commercial mass production of acrylic resins for use in paints. Following this, commercial mass production of acrylic resin sheets commenced on July 1, 2005.
Up to now, Mitsubishi Rayon has been meeting demand for these products from users in China by exporting from Japan, but the explosive growth pace of demand – particularly from the information technology and automotive sectors – has rendered this strategy insufficient. The start-up of Mitsubishi Rayon Polymer Nantong will enable shortened delivery times and a quicker response to changes in market needs. The Group stands ready to further expand the subsidiary’s production capacity in the event that growing demand once again threatens to outstrip its supply capabilities.
The continuing economic growth of China, accompanied by the transference by Japanese makers of production facilities to that country -- particularly in the manufacture of light-guide panels for LCD backlights made from high-end acrylic resins, as well as high-end applications in the automobile industry -- makes it virtually certain that demand for these acrylic resin products will remain very strong for the foreseeable future. In the field of general-use acrylic resins, used for shop signs and a wide range of miscellaneous consumer products, demand for higher quality acrylic resin products is on the rise, particularly in view of the upcoming Olympics in Beijing in 2008 and the Shanghai Expo in 2010. By putting high-quality products on the Chinese market, Mitsubishi Rayon hopes both to gain a larger share of that country’s market and to stimulate an expansion in demand.
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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