29 January 2013 10:53 [Source: ICIS news]
TOKYO (ICIS)--Japan-headquartered chemical company Nippon Shokubai said on Tuesday that it has merged two of its Singapore-based subsidiaries, Nippon Shokubai (Asia) and Singapore Glacial Acrylic.
The purpose of the merger, which was completed on 1 January 2013, is to rationalise corporate organisation and strengthen management systems, Nippon Shokubai said in a statement.
Nippon Shokubai (Asia) has become the surviving company, the producer said.
Nippon Shokubai Asia’s net sales for a full year to 31 December 2011 were $100.9m (€74.7m), while Singapore Glacial Acrylic’s net sales during the same period were $75.1m, according to Nippon Shokubai.
($1 = €0.74)
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