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Mitsui Chemicals Acquires Shares of Korean Optical Lens Monomer Company

February 20, 2013
Mitsui Chemicals, Inc.

Mitsui Chemicals, Inc. (“MCI”; Toshikazu Tanaka, President & CEO) today announced that it entered into a share purchase agreement with shareholders including management of KOC Solution (“KOC”), a Korean manufacturer and distributor of plastic optical lenses monomers, to acquire 51% of the Company’s shares. Following acquisition of the shares, the Company will become a subsidiary of the Mitsui Chemicals Group.

1. Objective of Acquisition

MCI positions optical lenses monomers as one of Five World Leading Businesses ---- businesses in which the Company holds a competitive edge ---- under its fiscal 2011 Mid-term Business Plan. MCI seeks to expand worldwide sales of its performance driven high index lenses while actively developing its low index lenses business through methods including M&As, such as the 2011 acquisition of ACOMON of Switzerland which holds a global distribution network in this field.
Meanwhile, KOC manufactures plastic optical lens monomers with middle index to high index with its main market being China.

The acquisition of KOC shares is expected to have the following synergistic effects on MCI's monomers for optical lenses business.

  • a. Improvement of MCI's product portfolio by addition of KOC's middle index to high index monomers
  • b. Expansion of MCI Group product sales on the growing Chinese market through manufacturing and sales sites owned by KOC which are located in areas where China's optical related businesses are concentrated

By making KOC a subsidiary of the MCI Group, the Group will further strengthen its position as a world leader in plastic optical lenses monomers and enhance its presence on the global market.

2. Outline of KOC

(1) Company Name : KOC Solution Co., Ltd. (CEO : Dong Gyu Jang)
(2) Business : Manufacture and sales of plastic optical lens monomers
(3) Head Office : Daejeon, Korea
(4) Facilities : Factories : Sejong, Korea Jiangsu, China (subsidiary)
Research facility : Daejeon, Korea
Sales offices : Daejeon, Korea Zhenjiang & Jiangsu, China (subsidiaries)
(5) Establishment : October 1999
(6) Paid-In-Capital : 500 million Korean Won
(approximately 40 million yen at an exchange rate of 1 won=0.08 yen)
(7) Shareholders : KOC management, etc.
(after share purchase : 51% MCI, 49% current shareholders)

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Mitsui Chemicals Acquires Shares of Korean Optical Lens Monomer Company (PDF:63KB)PDF