Kuraray Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Yasuaki Wakui; below, "Kuraray") and Mitsui Chemicals, Inc. (Headquarters: Minato-ku, Tokyo; President: Kenji Fujiyoshi; below, "Mitsui Chemicals") agreed on July 15 to terminate their relationship with regard to Kyodo Monomer Co., Ltd. (below, "Kyodo Monomer"). Kyodo Monomer was established through a fifty-fifty joint venture of Kuraray and Mitsui Chemicals, to manufacture methyl methacrylate (MMA) monomer, a raw material for the production of methacrylic resin(*1). Kuraray will transfer to Mitsui Chemicals its entire stock holding in Kyodo Monomer, which will become a wholly owned subsidiary of Mitsui Chemicals.
In 1988, Mitsui Toatsu Chemicals, Inc.(*2) and Kyodo Gas Chemical Co., Ltd.(*3) and established Kyodo Monomer as an equally funded joint venture. Kyodo Monomer commenced operations in 1991, and produced MMA monomer for the next 14 years.
September 30, 2005
1. Business activities | manufacturing and sale of methyl methacrylate monomer |
---|---|
2. Headquarters | Minato-ku, Tokyo |
3. Capitalization | ¥400 million |
4. Ownership | Kuraray, 50%; Mitsui Chemicals, 50% |
5. President | Toshikazu Tanaka (also vice-president of Mitsui Chemicals) |
6. Number of employees | 20 (all seconded from Mitsui Chemicals) |
7. Manufacturing facilities | (1) Location of plant: Takaishi city, Osaka (on the site of Mitsui Chemicals' Osaka Works) (2) Production capacity: 40,000 tons per year |