26 February 2010 06:39 [Source: ICIS news]
SINGAPORE (ICIS news)--Japanese producer Mitsui Chemicals said on Friday it will restructure its business from 1 April, “in response to the volatile business environment”.
The plan calls for further segmentation of Mitsui’s three business divisions – basic chemicals, performance materials and advanced chemicals – for easy tracking of operations, Mitsui said in a statement.
It said the move should “reinforce effectiveness and timely response of operations, accelerate strengthening and expansion of business and intensify synergistic effects of product line-ups”.
Within basic chemicals, the petrochemicals operations would be renamed petrochemical feedstocks division, while three new segments would be created, namely, phenols, PTA & PET (purified terephthalic acid and polyethylene terephthalate) and industrial chemicals.
Mitsui’s performance materials business, meanwhile, would be stripped into three parts: urethane, functional polymeric materials and fabricated products, the company said.
Its advanced chemical business, meanwhile, would have a fine & performance chemicals and health care materials segments, among others.
Meanwhile, Mitsui Chemicals said it would also form a new market development (automotive materials) division to accelerate development in priority markets.
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