Nippon Steel Chemical, Tohto to integrate epoxy-resin operations

21 December 2009 15:11  [Source: ICIS news]

TOKYO (ICIS news)--Nippon Steel Chemical and Tohto Kasei plan to integrate their epoxy-resin operations, the two companies said on Monday.

Nippon Steel Chemical and Tohto Kasei reached a basic agreement for the integration, which was scheduled to take effect on 1 April 2010, the companies said in a joint statement.

The move was part of Nippon Steel Chemical’s goal to achieve consolidated net sales of yen (Y) 200bn ($2.21bn) in its functional materials business by 2020, the companies said.

All of the functions of Tohto Kasei’s epoxy-resin business – planning, product development and sales, but excluding manufacturing – would be transferred to Nippon Steel Chemical, the two producers said.

Tohto Kasei would continue to manufacture epoxy-resin products at its three factories, which are located at Kobe and Mita, in Hyogo prefecture, and Sodegaura, in Chiba prefecture, the companies added.

Nippon Steel Chemical also planned to strengthen its ties with Kukdo Chemical, its South Korea-based affiliate company that produces epoxy resin, according to the statement.

($1 = Y90.45)

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By: Tomomi Yokomura
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