UBE Corporation announce that it has established a new company, which will be a holding company, and re-organized the chemicals-related companies in the U.S. in anticipation of a further expansion of the chemicals business in the U.S. going forward.
Objective of Establishing Holding Company
UBE has been reinforcing its business in the U.S., in addition to Europe and Asia, as part of a priority measure of its medium-term management plan “UBE Vision 2030 Transformation –– 1st Stage,” which is to pursue global profit growth driven by specialty chemicals.
Companies conducting business in the U.S. are UBE America Inc., a distributor wholly owned by UBE, and UBE Engineered Composites, Inc., which is wholly owned by UBE and is engaged in the manufacture and sales of nylon compounds and commissioned manufacturing of plastic compounds. As announced in July 2022, the basic design for the construction of a DMC and EMC plant in the U.S. is currently underway.
UBE will enhance regional management and management efficiency of the chemicals business in the U.S. by making UAI and UECI wholly owned subsidiaries of the newly established holding company. We will also strengthen a framework for promoting the growth of the specialty business, such as the C1 chemical chain.
Outline of the Holding Company
| Company name |
UBE Corporation America Inc. |
| Location |
USA |
| Business description |
Holding company of UBE’s overseas subsidiaries in the U.S. |
| Name and position of representative |
Jerónimo Porras, President and Chief Executive Officer |
| Capital |
USD 17 million |
| Investment ratio |
UBE Corporation 100% |
| Establishment |
January 2023 |
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Source: UBE