Mitsui Chemicals to Expand High Added Value Product Business
November 2, 2009
Mitsui Chemicals, Inc.
Mitsui Chemicals, Inc. (Toshikazu Tanaka, President & CEO), has continued to implement emergency measures such as improving profit structure and restructuring business to cope with the volatile business environment continuing from last autumn, and has decided on growth strategies including “ Expansion of its high-value added products business to support sustainable growth of the company. ”
As a part of the strategy, the company announced that it has decided to expand production capacities and establish a new company for high value-added business in the Performance Materials Business Sector. (Please refer to the attachment for details.)
- Expansion of Production Capacity of Ultra High Molecular Weight Polyethylene (HI-ZEX MILLION®）
- Expansion of Production Capacity of Ethylene and α-Olefin Co-Oligomer (LUCANT®）
- Establishment of New Company for Polyurethane Operations in Guangzhou, China
Total investments are expected to be around 8 billion yen
In addition to the abovementioned, the company’s second TAFMER® plant in Singapore is currently shifting to the commissioning stage and scheduled to commence commercial operation next spring. This new plant will increase TAFMER® production to 200,000 tons a year and enable the company to respond to dramatically growing demand for the product.
Mitsui Chemicals will continue its group efforts to respond to rapidly changing market conditions by accelerating the expansion business having advantages in competition.