Tuesday, August 11, 2009

Mitsubishi Chemical merge Mitsubishi Rayon

"It is true that we are making various examinations into M&As (mergers and acquisitions) according to the group midterm management plan, but we have nothing to disclose for the present,"
Mitsubishi Chemical said in a statement.

Mitsubishi Chemical Holdings Corp. is mulling acquiring Mitsubishi Rayon Co. through a tender offer worth up to ¥200 billion. To merge sales of the two company would be about 3.2 trillion Yen. It larger than Sumitomo Chemical Co. at ¥1.79 trillion Yen.

Mitsubishi Rayon is productive in carbon fiber for vehicles and is known for manufacturing various chemicals, including methyl methacrylate monomer, a type of acrylic resin that is an important constituent of various compound chemical products.

From this merge and this invest it will expand Mitsubishi Chemical to be a stronger business Chemical to flight rivals in China and Middle East by tender offer for Rayon unit.

Reference : japantimes

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