Sector News

Mitsubishi Chemical looks to merge three chemical units

July 17, 2015
Chemical Value Chain
Mitsubishi Chemical Holdings (MCHC) is looking to merge three of its chemical companies by April 2017, to boost competitiveness.
 
As part of the plan, the company is planning to integrate Mitsubishi Chemical Corporation (MCC), Mitsubishi Plastics (MPI), and Mitsubishi Rayon (MRC) into one company.
 
MCHC intends to commence a detailed feasibility study in this regard soon, with plans to complete it by the end of March 2016.
 
“Changes in the industrial structure are positioned to accelerate rapidly in line with the advance of information and communication technology.”
 
With this integration, the Japanese firm intends to strengthen its capabilities to adapt to rapidly changing business environments, and tackle competition from Asian, European and US chemical companies.
 
MCHC said in a statement: “While Japan’s domestic economy faces the challenges of a low birthrate, an aging population, and declining demand, the group recognises that emerging nations are showing remarkable economic growth.
 
“In addition, changes in the industrial structure are positioned to accelerate rapidly in line with the advance of information and communication technology (ICT).”
The proposed integration will provide the businesses with access to various resources, technology platforms, and sales channels to accelerate the growth and globalisation of their operations.
 
For the fiscal year which ended 31 March, MCHC recorded revenues of JPY3.6trn ($30.4bn), with net income of JPY60.8bn ($507.1m).
The Chiyoda-ku, Tokyo-headquartered company is engaged in electronics applications, designed materials, health care, chemicals, and polymers segments. It has a workforce of 68,263.
 
 

comments closed

Related News

May 21, 2022

Sika opens new manufacturing plant in Bolivia 

Chemical Value Chain

Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.

May 21, 2022

Chevron increases renewable fuel market share with REG acquisition

Chemical Value Chain

Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.

May 21, 2022

Lotte Chemical to invest $8 bn on hydrogen energy, battery materials by 2030

Chemical Value Chain

Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.