Taiwan Joint Venture for Electrolyte Solution Starts Operations

Mitsui Chemicals enhances mobility business to capture share in China’s environment-friendly car market



Mitsui Chemicals, Inc.

Formosa Mitsui Advanced Chemicals Co., Ltd. (“FMAC”), a joint venture of Mitsui Chemicals, Inc. (Tokyo: 4183; President & CEO: Tsutomu Tannowa; “Mitsui Chemicals”) and Formosa Plastics Corporation (Taiwan: 1301; Chairman & President: Jason Lin; “Formosa Plastics”), announced startup of its lithium-ion battery-use electrolyte solution production facilities.

Demand for lithium ion batteries has expanded in line with growth of laptop, smartphone, and tablet device markets. In the future, greater market growth is forecasted for the mobility market with the surge in demand for environment-friendly hybrid and electric vehicles especially in China.

Mitsui Chemicals, with Formosa Plastics, has exploited its extensive knowledge and cutting-edge technology to establish high-quality production and supply systems for electrolyte solutions to meet the needs of an expanding Chinese market.

In the Company’s midterm business plan, the mobility domain is targeted as a growth driver. As one of the growth leaders in this domain, Mitsui Chemicals eyes lithium-ion battery-use electrolytic solutions and is actively pursuing development in this area. With the startup of commercial operations at FMAC, Mitsui Chemicals will further strengthen and expand its electrolyte solution business with a focus on the mobility domain.

<Outline of FMAC>

1.Name Formosa Mitsui Advanced Chemicals Co., Ltd.
2.Establishment August 2013
3.Capital US$ 8.2 million
4.Equity ratio Mitsui Chemicals 50%, Formosa Plastics 50%
5.Location FPC industrial complex in Ningbo, China
6.Business Manufacture, sales and research for electrolyte solution in China
7.Capacity 1500 tons/year (to be increased in line with demand)

<Outline of Formosa Plastics>

2.Establishment November 1954
3.Capital US$ 1930 million
4.Location 201 Tung Hwa N.Road Taipei, Taiwan
5.Business Manufacture and sales of petrochemicals and chemical products
6.Employees 6,024 (2015)