Mitsubishi Gas Chemical Company, Inc., (Head Office: Tokyo; President:
Akira Ohira) transferred its entire holdings of common stock (85%
of issued shares) in Kashima Polymers Corporation (Head Office: Ibaraki
Prefecture; President: Tadashi Kunii) to Mitsubishi Engineering-Plastics
Corporation (Head Office: Tokyo; President Hideo Fukutani) on July
3, 2000. In addition, Kashima Polymers has decided to expand its compounding
capacity in response to the capacity expansion of polycarbonate resin
production at Mitsubishi Gas Chemical's Kashima Plant.
Out of MEP's total sales, compounding products account for roughly
35%. Thus, securing consistent compounding production, improving technology,
and lowering costs are very important issues for MEP. To this end,
MEP has decided to establish MEPCOM Yokkaichi Corporation in Yokkaichi
as a wholly owned subsidiary and build a plant capable of an annual
output of 50,000 tons. At the same time, Kashima Polymers, MEP's operations
base in eastern Japan, will become one of MEP's dependable compounding
subsidiaries.
Along with the expansion in 2002 of Mitsubishi Gas Chemical's Kashima
Plant, which will boost annual polycarbonate resin production by 70,000
tons, Kashima Polymers has also decided to increase its compounding
capacity from 15,000 to 25,000 tons and to expand its facilities for
the production of natural and ice colored pellets and flakes. |
| Summary |
|
|
| 1. |
Profile of Kashima Polymers Corporation |
|
Establishment: |
October 1988 |
|
Location: |
Kamisu-cho, Kashima-gun, Ibaraki
(On the grounds of Mitsubishi Gas Chemical's Kashima Plant) |
|
President: |
Tadashi Kunii |
|
Capital: |
300 million yen |
|
Capital structure: |
Mitsubishi Engineering-Plastics Corp.: 85%
SANKYU, Inc.: 15% |
|
Compounding: |
Primarily polycarbonate resin |
|
| Increase in plant capacity: |
(Present) |
|
(Post expansion) |
|
Compounding |
15,000 |
 |
25,000 tons/year |
|
Natural and ice colored pellets |
6,000 |
|
10,000 tons/year |
|
Flake production |
18,000 |
|
40,000 tons/year |
|
|
Start construction: |
September 2000 |
|
Completion of construction: |
Operations scheduled to begin early in 2002 |
|
|
|
|
| 2. |
Stock transfer date: |
July 3, 2000 |
|
