Japan's Mitsui & Co to set up Shanghai sales unit

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.

By: Iqbal Anand
+65 6780 4359

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