MOSCOW (MRC) -- Tosoh Corp. said it will examine and prepare the company for a merger with its wholly-owned subsidiary Nippon Polyurethane Industry Co. (NPU), subsequently dissolving the NPU subsidiary upon completion of the merger, according to Apic-online.
Tosoh's Nanyo complex currently supplies utilities and isocyanate raw materials to NPU, and NPU in turn supplies hydrogen chloride to Tosoh as a raw material for vinyl chloride monomer.
"Recovering and utilizing resources has raised operational competitiveness at NPU and Tosoh, and the merger will increase it further," Tosoh noted.
Subject to shareholder's approval, the merger took effect on 1 October, 2014, and consolidate the two companies' synergies under a single management base for "better, more flexible responses to a changing isocyanate operating environment," Tosoh explained.
As MRC informed previously, Tosoh Corporation has recently announced it will construct a plant to produce Rzeta, the company’s new emission-free reactive amine catalyst for polyurethane foams. The plant will be built on the grounds of the ethyleneamine production facilities at the Nanyo complex for an estimated investment of JPY 2 billion (about EUR 15.3 million). Construction of the Rzeta plant began in September 2013 and is expected to be completed by November 2014. Rzeta-produced PU foams are used in proximity to other resins, such as polyvinyl chloride (PVC) and polycarbonates.
Tosoh is one of the largest chlor-alkali manufacturers in Asia. The company supplies the plastic resins and an array of the basic chemicals that support modern life. Tosoh's petrochemical operations supply ethylene, polymers, and polyethylene.
MRC