Industry News

Mitsubishi Chem, BASF to end 3 Joint Ventures

Published on 2003-01-29. Author : SpecialChem


Mitsubishi Chemical Corp. said it will end three joint ventures with German chemical maker BASF AG as part of operational restructuring, Kyodo News agency reported.

The three ventures are BASF Dispersions Co., Mitsubishi Chemical Foam Plastic Corp. and MCB Corp.

BASF Dispersions, which produces materials for adhesives, will become a wholly owned unit of BASF's Japanese subsidiary, BASF Japan Ltd., on Tuesday, Kyodo reported.

Mitsubishi Chemical Foam will be merged with an affiliate of Mitsubishi Gas Chemical Co. on July 1.

MCB, which holds and manages assets commonly owned by BASF Dispersions and Mitsubishi Chemical Foam, will be absorbed by Mitsubishi Chemical on March 24.

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