Mitsui Chemicals Fabro, Inc. Divested to Riken Technos Corporation
March 30, 2012
Mitsui Chemicals, Inc.
Mitsui Chemicals, Inc. ("MCI") (Toshikazu Tanaka, President & CEO) announced the decision to sell off its 100% subsidiary, Mitsui Chemicals Fabro, Inc. ("MFI") (Sadamu Sawatari, President) to Riken Technos Corporation ("RTC") (Hiroshi Shimizu, Representative Officer & President) on October 1st 2012.
MFI specializes in manufacture and distribution of vinyl chloride food wrapping and distribution of consumer film products (polyethylene bags, cooking sheets, etc.) mainly on the domestic Japanese market.
MCI has decided to divesture MFI to RTC, a major manufacturer of vinyl chloride resin compounds and consumer use vinyl chloride food wrapping.
The divesture of MFI to RTC, is in line with MCI’s fundmental strategy in the 2011 Mid-Term Business Plan, which targets changing and consolidating the Company’s product portfolio. MCI will continue to strengthen its high performance functional films/sheets operations as one of five priority businesses resilient to changing economic conditions.
Outline of Mitsui Chemicals Fabro, Inc.
| Establishment: | September 25, 1972 |
| Capital: | 2 million yen |
| Business: | 1. manufacture, processing, and distribution of synthetic resin films (food wrapping) 2. manufacture, processing, and distribution of consumer products made of synthetic resin films, aluminum, paper, etc. |
| Shareholder: | 100% Mitsui Chemicals, Inc. |
| Employees: | 104 persons |
| Head Office: | 4-2-6 Kudan-Kita, Chiyoda-ku, Tokyo |
Attachment
Mitsui Chemicals Fabro, Inc. Divested to Riken Technos Corporation(PDF:47KB)
