Mitsui Chemicals to Exit C9 Petroleum Resin Business
May 7 2009
Mitsui Chemicals, Inc.
Mitsui Chemicals Inc., (“MCI”) announced today that it has decided to terminate C9 petroleum resin (trade name: PETROSIN) sales and production which are currently being conducted under the Coatings & Engineering Materials Division of the Performance Materials Business Sector.
In the Mid-term Business Plan, which commenced in fiscal year 2008, the Performance Materials Business Sector will focus on strategies to “establish high-profitability as a growth driver,”and “expand its functional polymer business and restructure its business portfolio.”In line with this strategy, the sector is pursuing a selective strategy with focus on its business portfolio. The withdrawal from the petroleum resin business is in line with this strategy.
MCI has sold PETROSIN overseas and on the domestic Japanese market since 1961. Sharp increases in feedstock prices in recent years have made satisfactory cost performance difficult. MCI intensified efforts to establish optimum production and streamline operations. However, based on the increasingly constrained business environment, the prospect of achieving stable revenues is no longer possible. Accordingly, as of March 2010, MCI will exit the C9 petroleum resin business.
The Coatings & Engineering Materials Division will assure future business growth through concentration on polyurethane and polyolefin based coating materials and adhesives, and development and reinforcement of highly functional, added value products.
Attachment
Mitsui Chemicals to Exit C9 Petroleum Resin Business(PDF:13KB)
