23 July 2012 13:58 [Source: ICIS news]
TOKYO (ICIS)--Japanese chemical producer Tosoh Corp has bought the remaining shares in Nippon Polyurethane Industry from Hodogaya Chemical to make it Tosoh’s wholly-owned subsidiary, the company said on Monday without disclosing the sale price.
Tosoh’s share in Nippon Polyurethane, a producer of methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI), was 80.28% before the purchase.
“We have decided to make Nippon Polyurethane our wholly-owned subsidiary because a quick recovery of profits [of Nippon Polyurethane] through an integrated and effective operation with our company is necessary,” Tosoh said in Japanese.
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