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May 9, 2007 |
Mitsubishi Rayon Co., Ltd. |
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Nitto
Denko and Mitsubishi Rayon to Form R&D
JV for Water Treatment Membranes Technology |
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Japan’s leading diversified
materials company Nitto Denko Corporation
(Nitto Denko) and Mitsubishi Rayon Co.,
Ltd. (MRC), leading manufacturer of speciality
chemicals, have reached a basic agreement
to jointly establish a company for conducting
R&D of water treatment membranes technology,
the companies announced today. The
move this time is an initial step envisaging
a possible future consolidation of the two
parties’ water treatment businesses,
they said.
The joint venture company,
to be named Kathyd Technology, will conduct
development work in the fields of seawater
desalination and wastewater recycling & reuse
with much future growth potential. Anticipated
are new, state-of-the-art competitive products
for the world market leveraging the technological
synergy of Nitto Denko and MRC, the companies
noted.
The word “Kathyd” in
the JV’s name derives from the combination
of classical Greek words for “clear
and pure” and “water”,
according to the parents’ explanation.
Through its development work, Kathyd is expected
to contribute ¥10 billion to the aggregate
sales revenue of the parent companies by the
fifth year of operation, they added. |
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<Details
of the Joint Venture Company> |
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1.Company
Name |
: |
Kathyd Technology, LLC |
2.Head
Office Location |
: |
Oceanside,
California, U.S.A. |
3.Paid-in
Capital |
: |
$1 million
(at the time of establishment) |
4.Shareholding
Ratio |
: |
Hydranautics * |
: |
50% |
* Nitto
Denko’s 100% U.S. subsidiary |
Mitsuibishi Rayon America Inc. ** |
: |
50% |
**
MRC’s
100% U.S. subsidiary |
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5.Corp. Representatives |
: |
Nitto Denko |
: |
Minoru Kikuoka
CEO,
Hydranautics, and Gen.
Mgr., Membrane Div., Nitto Denko |
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MRC |
: |
Masahito Terakura
Gen.
Mgr., Aqua Div.,
Mitsubishi
Rayon Engineering Co., Ltd. |
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6.Establishment
Date |
: |
June 1, 2007 |
7.Business
Activity |
: |
(1) |
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Development of micro-filter (MF)
membrane modules for: |
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• Sea water pre-treatment prior to
desalination and |
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• Treatment of wastewater from sludge filtration |
(2) |
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Development of practical application technologies based on combining the MF and Reverse Osmosis (RO) membrane technologies moydaHyHHy |
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The contents shown herein are accurate as of the time of posting.