13 November 2008 11:45 [Source: ICIS news]
TOKYO (ICIS news)--Japanese chemical producer Sekisui Chemical plans to sell all the shares of its wholly-owned subsidiary Sekisui Medical Electronics and dissolve the company by March 2009 in order to focus on different businesses, the company said on Thursday.
The producer said it would hand over the business of Sekisui Medical Electronics, a manufacturer of medical devices and part of the producer’s performance plastics segment, to an unnamed “third company,” it added, without disclosing financial details.
The liquidation would be completed by 30 September 2009, it added.
In the medical division of the performance plastics segment, Sekisui Chemical aimed to further expand the medical testing and the healthcare businesses by concentrating its management resources in these areas, Sekisui Chemical said.
The two businesses are primarily operated by Sekisui Medical, which was formed in April 2008.
The liquidation would have a minor impact on the producer’s financial results, but the company did not plan to revise its forecast, Sekisui Chemical said.
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