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Mitsubishi and Asahi Kasei to establish Nishi Nippon Ethylene

February 24/2011

(Asahi Kasei) -- Mitsubishi Chemical Corp. and Asahi Kasei Chemicals Corp. have decided to establish a limited liability partnership (Nishi Nippon Ethylene LLP) for the integrated and unified management of their naphtha cracker operations in Mizushima, Japan, as previously announced on May 31, 2010.

With the start-up of unified management by this newly established LLP in April 2011, Mitsubishi Chemical and Asahi Kasei will implement a coordinated rationalization of operations for increased efficiency based on an optimized configuration, responding swiftly to changes in the operating climate for the Japanese petrochemical industry. The parties will also make every effort to further strengthen the Mizushima industrial zone including through alliances with oil refineries.

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