Mitsui Chemicals Announces Transfer of Head Office Operations for High Performance Elastomer (TAFMER™) to Singapore
February 28, 2011
Mitsui Chemicals,Inc.
Mitsui Chemicals, Inc. ("MCI") (Toshikazu Tanaka, President & CEO) announced that it has decided to transfer head office functions for its high performance elastomer TAFMER™, one of the Company's five world-leading businesses, to Singapore as part of its new Mid-Term Business Plan which targets global expansion of the Company's highly competitive businesses.
Mitsui Chemicals holds the world's top share in competitive edge high performance elastomers and has continued to strategically develop its TAFMER™ market ahead of competition. Demand for TAFMER™, against the backdrop of Asia's economic and industrial growth and sophistication, is expected to continue to expand. In March 2010, Mitsui Elastomers Singapore commenced commercial operation at its second plant (capacity 100,000 tons/annum) to further strengthen the Company's competitive platform in Asia, its most important market.
Currently, overall business management of the Company's TAFMER™ operations has been implemented by the Company's head office Business Division in Tokyo. However, from April 2011, to efficiently respond to Asia's robustly growing demand, head office operations for TAFMER™ business including formulation and implementation of business strategy and responsibility for revenue will be transferred to Mitsui Elastomers Singapore (“MELS”).
MELS is currently responsible for over 80% of TAFMER™'s production and distribution and heads the supply chain for the product. MELS will be upgraded to a position in line with a head office business division to implement more speedy and aggressive management for the product.
MCI will maintain its top position in Asia by intensifying its high quality, high performance products and their technical support networks while accelerating the strengthening of TAFMER™ operations in Europe and the Americas to consolidate a foothold as a global top supplier.
Note: TAFMER™, a flexible and lightweight olefin elastomer with wide applications, dramatically improves impact resistance and heat sealing properties of materials when blended with thermoplastic resins such as polypropylene or polyethylene. Demand for the product in automotive, industrial, and packaging material industries has continued to see significant growth.
Overview of MELS
| 1. Company Name | MITSUI ELASTOMERS SINGAPORE PTE LTD |
|---|---|
| 2. Establishment | February 26. 2001 |
| 3. Capital | US$96.3 million (100% subsidiary of MCI) |
| 4. Address | 3 HarbourFront Place #10-01 HarbourFront Tower2 Singapore 099254 （Phone：+65－6532－0403 ＦＡＸ：+65－6533－6423） |
| 5. President | Atsushi Komoriya |
| 6. Business Area | Manufacture and distribution of high performance elastomers (mainly TAFMER™) |
