Mitsui Chemicals is preparing to restructure operations of its functional chemicals business unit, to accelerate new product development and business strategy.
The restructuring is part of the company’s 2014 mid-term business plan, which is designed to simplify domain of each business sector.
The decision is said to strengthen business support function and accelerate decision making, while improving operational efficiency and reducing interdepartmental coordination, Mitsui Chemicals said.
As part of the restructuring, Mitsui functional chemicals business sector’s fine and performance chemicals division and licensing division will be moved to its basic chemicals business segment and petrochemicals business sector, respectively.
The Mitsui Chemicals Agro operations will be upgraded to a business sector.
The functional chemicals business sector will operate under the ‘Health Care Business Sector’ name.
Mitsui Chemicals plans to establish a R&D centre to manage activities of its R&D strategy division, Mitsui Chemicals Singapore R&D Centre, synthetic chemicals laboratory, and polymeric materials laboratory, as well as its functional materials laboratory, new products development laboratory, process technology centre, advancing analysis laboratory, and R&D administration division.
The centre will bring together all of the company’s R&D functions, and strengthen cross-laboratory cooperation, thereby facilitating creation and commercialisation of new business and products.
As part of the restructuring, the company will reorganise its production and technology centre, safety and environment division, RC and quality assurance division, internal control division, SCM division, and corporate performance management division.
Its finance and accounting division, corporate communications division, CSR division, corporate administration division, and legal division will also be reorganised.
The company will establish fabricated products business coordination division and food and packaging business promotion division.