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Mitsui Chemicals and SKC Join Hands to Unite Polyurethane Material Businesses

Published on 2014-12-23. Author : SpecialChem

Mitsui Chemicals, Inc. and SKC Co., Ltd. announced the signing of a joint venture agreement to consolidate the polyurethane material businesses of both companies.

MCI and SKC target to form the new joint venture company (“JVC”) subject to completion of necessary procedures, such as the obtaining of relevant approvals and licenses.

The JVC is headed to be a global comprehensive manufacturer of polyurethane materials which provides value for customers and targets sales of US$2.0 billion per year around 2020.

Basic strategies of the JVC are as follows:

1. Satisfy customer needs in growing markets

The JVC will fully utilize the global networks of MCI and SKC covering Far East Asia, China, ASEAN, Europe, and the Americas based on close relationships with customers and the provision of quick and efficient technical services.

2. Explore new businesses globally

The JVC will develop new applications and customers through consolidation of products and technologies of MCI and SKC.

3. Improve profitability

The JVC will secure global top cost competitiveness by optimizing resources / maximizing efficiency and taking advantage of parent company raw materials.

The JVC intends to maximize the synergy effects by integrating system product businesses. The knowledge and information accumulated by MCI and SKC over the years will be shared and utilized by the JVC to provide total solutions to customers.

About The Mitsui Chemicals Group

The Mitsui Chemicals Group aims to realize dreams through innovation and chemistry. Chemistry is an industry where the dream of creating new wealth for people's lives is realized. Mitsui Chemicals contributes to society by providing high-quality products and services to customers through innovations and creation of materials while maintaining harmony with the global environment.

About SKC Co., Ltd.

SKC Co., Ltd., is a subsidiary of SK Group (a Global Fortune 500 Company). SK Group is a worldwide conglomerate operating in the energy, petrochemicals, fibers, films, telecommunications, life sciences, consumer products, trading, and finance sectors. SKC, Inc. in Covington, GA, USA is SKC's PET film manufacturing site in the USA.

Source: The Mitsui Chemicals Group

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