Formation of Mitsui Chemicals Polyurethanes, Inc.
In accordance with the agreement signed when MTCI was established, MCI will purchase Takeda's equity interest of 49% in MTCI on April 1, 2006. MTCI will become a wholly owned MCI subsidiary as a result of this share purchase and be renamed Mitsui Chemicals Polyurethanes, Inc.
Under its current medium-term business plan, Mitsui Chemicals Group is aiming for expansion and growth in the Performance Materials Sector, where the urethane business is positioned as a core business. Mitsui Chemicals Polyurethanes will thus have a vital role to play in the development of Mitsui Chemicals Group in this area. Leveraging know-how and technologies acquired over many years in both urethane raw materials and urethane resins, Mitsui Chemicals Polyurethanes will seek to develop as a solutions-oriented company capable of helping customers solve the issues they face through polyurethanes.
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