MOSCoW (MRC) -- Mitsubishi Chemical Corporation, a wholly-owned subsidiary of Mitsubishi Chemical Holdings Corporation, has established Mitsubishi Chemical Performance Polymers Europe B.V. and has started its operation as a regional headquarters for the performance polymers business in Europe, reported the company on its site.
This company will integrally hold all European performance polymers business including CTS Group companies acquired from Tessenderlo Group on June 18, 2013. Together with the new management structure, all European performance polymers companies have started operation with new corporate names as of October 1, 2013 as listed in the reference below.
Furthermore, Mitsubishi Chemical will strengthen its business in China by renaming APCO (SUZHOU) CO., LTD to Mitsubishi Chemical Performance Polymers (China) Co., Ltd. and will pursue integrated management in China for CTS Automotive Compounds (Changshu) Co., Ltd.
New management structures both in Europe and China are in line with the business strategy of performance polymers, a growth business in the company portfolio, to accelerate integration and expansion of thermoplastic elastomers, cross-linked polymers, adhesive polymers, and PVC compounds for the automobiles, medical care, food, and building industries.
We remind that, as MRC informed previously, in April 2013, Mitsubishi Chemical has purchased all of the assets related to Comtrex's compounding business. The acquisition of the Comtrex business is expected to help MCC speed up the expansion of its performance polymers business through its networks across the world. Having been engaged in the PVC compounding business for more than 30 years, Comtrex started developing a line of vulcanized thermoplastic elastomers (TPV) in 2000 and selling the product in 2002.
Mitsubishi Chemical with headquarters in Tokyo, Japan, is a diversified chemical company involved in petrochemicals, polymers, agrochemicals, speciality chemicals and pharmaceuticals. The company's main focus is on three business pillars: petrochemicals, performance and functional products, and health care.
MRC