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Mitsubishi Chemical sells light metal products business to Chinese firms

November 20/2020

MOSCOW (MRC) -- Mitsubishi Chemical Corporation (MCC) has recently concluded a framework agreement with Konfoong Materials International Co. and KFMI Group company TCPR (Shanghai) Electro-Mechanical High-Tech Co. for the transfer of MCCs light metal products business, said Chemweek.

KFMI and TCPR manufacture sputtering target materials for semiconductors and liquid crystal displays, and rank among the top companies in the world for the manufacture of aluminum target materials, in particular. KFMI and TCPR plan to strengthen their businesses by acquiring businesses positioned upstream from their own operations, and securing a base in Japan. The two companies have a wealth of expertise in the global high-purity aluminum industry, and are long-standing purchasers of MCCs light metal products.

This transfer is part of the firms efforts to enhance portfolio management based on the Mitsubishi Chemical Holdings Groups Aptsis 20 medium-term management plan, and is scheduled for completion in April 2021. In conjunction with the transfer, MCC is also considering withdrawal from the manufacture and sales of the KN series products (aluminum alloy for molding applications), which form part of its light metal products business but are not included in this transfer.

As  MRC informed earlier, Mitsubishi Chemical, a subsidiary of Mitsubishi Chemical Holdings Corporation, plans to resume production of methyl methacrylate (MMA) in Otake, Japan, in early December after scheduled repairs. The company closed this plant with a capacity of 110,000 tonnes/year of MMA for scheduled repairs in early September this year.

The main application, consuming approximately 75% MMA, is in the production of polymethyl methacrylate acrylic plastics (PMMA). Methyl methacrylate is also used to produce methyl methacrylate-butadiene-styrene copolymer (MBS), used as a modifier for polyvinyl chloride (PVC).

According to MRC's ScanPlast report, October total production of unmixed PVC grew to 86,600 tonnes from 86,000 tonnes a month earlier, SayanskKhimPlast and Bashkir Soda Company increased their capacity utilisation. Overall output of polymer was 805,100 tonnes in the first ten months of 2020, which virtually corresponds to the last year"s figure. Two producers increased their production, whereas two other manufacturers reduced their output.

Mitsubishi Chemical, a Japanese integrated chemical company, was established on October 1, 1990 through the merger of Mitsubishi Kasei and Mitsubishi Petrochemical Co. Due to its wide range of activities, it is one of the ten leading chemical companies in the world.


mrcplast.com
Author:Anna Larionova
Tags:acryl, akrilonitril-stirol-akrilat (ASA), petroleum products, PVH, EPVC, PVC paste, SPVC, metilmetakrilat (MMA), metilamin, hlormetan, MMA (metilmetakrilat), neftegaz, petrochemistry, Mitsubishi Chemical.
Category:General News
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