Mitsui-Takeda to Expand Polyurethane Resin Business in China

09-Sep-2005

Mitsui Takeda Chemicals, Inc. (MTCI) has agreed with the current joint venture partners for Tianjin Cosmo Polyurethane Co., Ltd. (TCPC) as follows, in order to capture the rapidly growing demand for polyurethane(PU) resins in China. MTCI increases its stake in TCPC thus converting it to a consolidated subsidiary, and production facilities for PU resins will be constructed in TCPC.

MTCI is a joint venture company between Mitsui Chemicals, Inc. (MCI) and Takeda Chemical Industries, Ltd. (Takeda), and is engaged in the manufacture, sales and research of PU raw materials, PU resins and organic acids. TCPC will be converted to a consolidated subsidiary of MTCI in the second half of this year, with the stake increase of 45% to 70% (original capital of 30 million yuan will be increased to 90 million yuan). The new facilities will be constructed in TCPC site (ChengLin Industry District Tianjin, China), and will start commercial operation in July 2006, with its capacity of 17,000-ton/yr, for the main application of PU resins for coatings, paints, and flexible packaging adhesives.

Under its current medium-term business plan, Mitsui Chemicals Group is aiming for expansion and growth in Performance Materials Sector consisting of Functional Polymers, Information & Electronics Materials and Healthcare Materials businesses. The strategy of PU resin business as one of Functional Polymers is to push ahead with further expansion the businesses through capturing the high-growth demand in Asia and expanding new products contributing to environmental preservation.

https://www.chemeurope.com/en/news/48861/mitsui-takeda-to-expand-polyurethane-resin-business-in-china.html