MOSCOW (MRC) -- Sumitomo Chemical has decided to merge its three Singapore-based subsidiaries - Sumitomo Chemical Asia Pte Ltd, Sumitomo Chemical Singapore Pte Ltd, and Sumitomo Chemical (Asia Pacific) Pte Ltd, effective April 1, 2017, as per the company's press release.
Sumitomo Chemical Asia Pte Ltd will be the surviving company.
The merger is intended to enhance Sumitomo Chemical Group’s competitive advantage in the sales, marketing, production, and supply-chain management of chemical products in the region of Asia through bringing together the three companies' extensive business expertise and leveraging their established intelligence network.
In addition, concentrating the management resources of the three companies will serve to attain the overall optimization of the integrated business operations.
Following the merger, Sumitomo Chemical Asia Pte Ltd, as the Sumitomo Chemical Group’s regional headquarters in the region, will work to expand the Group’s presence in the region by seizing business opportunities successfully in the growing markets of the region.
As MRC informed previously, Kuraray, Sumitomo, and PTT Global Chemical signed a Head of Agreement (HOA) to jointly perform a Detailed Feasibility Study (DFS) for potential project development of manufacturing and sales of butadiene derivatives in Thailand. This was announced by the companies on 13 September 2016. The Feasibility Study (FS) will be targeted to start operation of 16,000 t hydrogenated styrenic block copolymers (HSBC) and 13,000 t polyamide 9T (PA9T) in Hemaraj Eastern Industrial Estate (HEIE), Rayong in Thailand in 2020. Butadiene as a key raw material will be supplied by PTTGC.
Sumitomo Chemical is a Japanese based manufacturer of a diverse range of products, including basic chemicals, petrochemicals and plastics, fine chemicals, agricultural chemicals, IT-related chemicals and pharmaceuticals.
MRC