Calgon buys out Mitsubishi Chemical stake in Calgon Japan

Calgon buys out Mitsubishi Chemical stake in Calgon Japan

2:19 PM, 2nd April 2011
Calgon buys out Mitsubishi Chemical stake in Calgon Japan

 

PITTSBURGH,US: Calgon Carbon Corporation announced it has completed the acquisition of Calgon Carbon Japan KK, the former joint venture between Calgon Carbon Corporation (Calgon Carbon) and Mitsubishi Chemical Corporation (MCC). The transaction occurred in accordance with the redemption, asset transfer and contribution agreement which was executed by MCC and Calgon Carbon in 2010.

 

Calgon Carbon had increased its ownership of the joint venture from 49 per cent to 80 per cent on March 31, 2010 through the redemption of MCC shares and had changed the name to Calgon Carbon Japan KK. On March 31, 2011 the company completed the acquisition of CCJ. Leading up to the March 2011 transaction, Calgon Carbon negotiated certain claims with MCC and the final 20 per cent was acquired without payment of any additional cash. CCJ is now a wholly owned subsidiary of Calgon Carbon.

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