04 November 2002 06:00 [Source: ICIS news]
SINGAPORE (CNI)--Japanese trading major Mitsui & Co will set up a synthetic resin sales company in Shanghai, China, by the end of this month to cater to its Japanese clients such as auto manufacturers and household appliance makers, who are increasingly shifting operations to the mainland.
This will be the second such sales firm in China for Mitsui since the company has already set up its first sales company in Hong Kong.
The new sales unit will be capitalised at Yen37m ($302 622/Euro303 826), which will be provided entirely by Mitsui and its local subsidiary. It will also aim to tap demand from non-Japanese companies operating in China, and is aiming for $12m in sales by fiscal 2006.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections