February 15, 2011
Lion Idemitsu Composites Co., Ltd.
Kuraray Trading Co., Ltd.
Lion Idemitsu Composites Co., Ltd. (Headquarters: Taito-ku, Tokyo; "Idemitsu Lion Composites") and Kuraray Trading Co., Ltd. (Headquarters: Kita-ku, Osaka; "Kuraray Trading") today announced that the two companies agreed on the transfer of Kuraray Trading's mica reinforced resin (product name: MRP®) business to Idemitsu Lion Composites.
The business transfer is planned on April 1, 2011.
Kuraray Trading has judged that the further expansion of its mica reinforced resin business, which it has been developing since 2003, would be difficult to achieve within the parameters of the Kuraray Group.
In light of this, Kuraray Trading agreed that it would sell this business to Idemitsu Lion Composites, which is in a position to reap synergistic benefits from such an acquisition in the areas of development, production and sales because of the complementary nature of its product lineup.
As of April 1, 2011, Kuraray Trading will sell its mica reinforced resin business to Idemitsu Lion Composites. The scope of business transfer includes assets related to the business, patents for production techniques and know-how.
|(1) Product features||Reinforced synthesized resin created by incorporating mica to enhance strength, rigidity and dimensional stability|
|(2) Major applications||Home appliances, office automation equipment and automobile chassis|
|(1) Established||May 26, 1979|
|(2) Capital||¥100 million|
|(3) Shareholders||Idemitsu Kosan Co., Ltd. 50%; Lion Corporation 50%|
|(4) Representative Director and President||Yasuo Tateishi|
|(5) Principal businesses||Development, production and sale of special composite synthetic resin|
|(1) Established||October 1, 1961|
|(2) Capital||¥2,200 million|
|(3) Shareholder||Kuraray Co., Ltd., 100%|
|(4) Representative Director and President||Hiroaki Yoshino|
|(5) Principal businesses||Production, processing, sales and purchase, and import and export of chemicals, chemical products, fiber materials and products|