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MMA Monomer Manufacturing Tie Dissolved between Kuraray and Mitsui Chemicals

Published on 2005-08-09. Author : SpecialChem

Kuraray Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Yasuaki Wakui; below, "Kuraray") and Mitsui Chemicals, Inc. (Headquarters: Minato-ku, Tokyo; President: Kenji Fujiyoshi; below, "Mitsui Chemicals") agreed on July 15 to terminate their relationship with regard to Kyodo Monomer Co., Ltd. (below, "Kyodo Monomer"). Kyodo Monomer was established through a fifty-fifty joint venture of Kuraray and Mitsui Chemicals, to manufacture methyl methacrylate (MMA) monomer, a raw material for the production of methacrylic resin (Highly transparent, light in weight, and strong, methacrylic resin is widely used in LCD light guides and other optical products, as well as in auto parts and a number of other applications). Kuraray will transfer to Mitsui Chemicals its entire stock holding in Kyodo Monomer, which will become a wholly owned subsidiary of Mitsui Chemicals.

Background

In 1988, Kyodo Gas Chemical Co., Ltd.(Kyodo Gas Chemical Co., Ltd. merged with Kuraray Co., Ltd. in 1989) and Mitsui Toatsu Chemicals, Inc.(In 1997 Mitsui Toatsu Chemicals, Inc. merged with Mitsui Petrochemical Industries, Ltd. to become Mitsui Chemicals, Inc.) and established Kyodo Monomer as an equally funded joint venture. Kyodo Monomer commenced operations in 1991, and produced MMA monomer for the next 14 years.

Date of stock transfer to Mitsui Chemicals :September 30, 2005

Additional Information : Kyodo Monomer Co., Ltd. (Data as of July 15, 2005)

Polymer
Present
Business activities manufacturing and sale of methyl methacrylate monomer
HeadquartersMinato-ku, Tokyo
Capitalization¥400 million
Ownership Kuraray, 50%; Mitsui Chemicals, 50%
Number of employeesToshikazu Tanaka (also vice-president of Mitsui Chemicals)
Manufacturing facilities 20 (all seconded from Mitsui Chemicals)
Capitalization(1) Location of plant : Takaishi city, Osaka
(on the site of Mitsui Chemicals' Osaka Works)
(2) Production capacity : 40,000 tons per year

Source: Kuraray Co., Ltd.


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