22 October 2008 12:25 [Source: ICIS news]
TOKYO (ICIS news)--Three chemical-related subsidiaries of Japanese trading house Toyota Tsusho Corp plan to merge in order to strengthen their operations, the parent company said on Wednesday.
The new company aimed to generate net sales of yen (Y) 160bn ($1.6bn) in its initial year, Toyota Tsusho said.
The three companies were currently engaged in the domestic sale of chemical products and synthetic resins in ?xml:namespace>
Toyotsu Chemiplas aimed to become a leading trading house specialising in chemical products and synthetic resins by carrying out aggressive overseas development and business investment, the firm added.
($1 = Y100.6)
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