28 May 2010 17:23 [Source: ICIS news]
AMSTERDAM (ICIS news)--Mitsubishi Chemical Corp has completed the acquisition of DSM’s polycarbonate business, and operations under new management will begin at the start of next week, the Japanese company said on Friday.
Following the completion of the deal, Mitsubishi has established a new technical centre for research and development at the Chemelot industrial site in Geleen, the ?xml:namespace>
The president of Mitsubishi Engineering Plastics (MEP) for
“MEP has the ambition to become the global leader in polycarbonate and engineering plastics,” Kitahara said in a statement.
Speaking at the Pre-K plastics and rubber conference in
The acquisition was part of an agreement whereby Mitsubishi purchased DSM’s polycarbonate business in exchange for its polyamide business.
Financial details of the deal were not disclosed.
As part of the deal, a number of key employees of DSM have been transferred to MEP.
Michael Koch, business unit director at DSM Engineering Plastics, who was also speaking at the conference, said the deal had provided a strong strategic fit for both companies.
“We have now completely left the polycarbonate business. We have taken over their nylon business, and we now have access to
“We are very strong in nylon and now have a global footprint with the product,” Koch said.
“I actually signed the contract yesterday and it will be all finalised at the end of the month,” he added.
Looking at further acquisitions, Koch said DSM would invest if a product strategically fitted with the group’s segments.
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