Fundamental Agreement to Integrate Film/Sheet Business
December 18, 2009
Mitsui Chemicals, Inc.
Tohcello Co., Ltd.
Mitsui Chemicals Fabro, Inc.
Mitsui Chemicals, Inc. (“MCI”) (Toshikazu Tanaka, President & CEO), Tohcello Co., Ltd. (“Tohcello”) (Kouichi Tominaga, President & CEO), and Mitsui Chemicals Fabro, Inc. (“Fabro”) (Kenji Yoshikawa, President & CEO) announced today, the signing of a Fundamental Agreement to study integration of film/sheet businesses of the three companies.
One of the fundamental strategies of the MCI Group is expansion of high-value added business to achieve sustainable growth. As part of this strategy, the Group decided to intensify its film/sheet businesses. In April 2009, Tochello became a wholly owned company of MCI. The Group is studying integration of MCI's and Fabro's film/sheet business with Tohcello at the core.
Under the Fundamental Agreement, the Companies will study integration of film/sheet businesses by merging operations of Tohcello and Fabro and consolidating them with MCI's related operations to form a new company by October 2010.
The Group's film/sheet business synergy will be maximized by integration of management resources currently spread over different divisions within the Group.
Outline of Tohcello and Mitsui Chemicals Fabro
| Company Name | Tohcello Co., Ltd. | Mitsui Chemicals Fabro, Inc. |
|---|---|---|
| Business Area (Main Areas) |
Manufacture processing and sales of packaging and industrial use films | Manufacture, processing, and sales of highly functional fabricated films/sheets and daily-use sundries |
| Establishment | January 1929 | September 1972 |
| Capital | 3,450 million yen | 400 million yen |
| Equity Interest | Mitsui Chemicals 100% | Mitsui Chemicals 100% |
| Head Office | Chuo-ku, Tokyo | Chiyoda-ku, Tokyo |
| Manufacturing Facilities | Ibaraki (Ibaraki Pref.), Koga (Ibaraki Pref.), Hamamatsu (Shizuoka Pref.) Tokushima (Tokushima Pref.:Shikoku Tohcello) |
Katsuta (Ibaraki Pref.) Nagoya (Aichi Pref.) Anjo (Aichi Pref.) |
| Employees | 978 (consolidated) | 278 |
| Sales | 63,000 million yen (consolidated FY 2008) |
18,000 million yen (FY 2008) |
Attachment
Fundamental Agreement to Integrate Film/Sheet Business(PDF:64KB)
