Mitsubishi Chemical merge three firms; looks tackle competition

Mitsubishi Chemical to merge three firms; looks to tackle competition

2:06 PM, 19th July 2015
Mitsubishi Chemical to merge three firms; looks to tackle competition

TOKYO, JAPAN: Mitsubishi Chemical Holdings Corporation said that the MCHC Group will begin a detailed review towards re-organization of the group to integrate its three chemical operating companies - Mitsubishi Chemical Corp, Mitsubishi Plastics and Mitsubishi Rayon, into one company by April 2017. 

The organizational restructuring detailed review study will be completed by end of March 2016.

The changing business climate of the Japanese chemical industry, domestic economic challenges such as low birthrate, an ageing population and declining demand, are some of the issues faced by the group. Also emerging nations are showing remarkable economic growth. In addition, changes in the industrial structure are positioned to accelerate rapidly in line with the advance of information and communication technology (ICT).

The MCHC Group’s highest priority in addressing these issues is to strengthen its business foundation to flexibly meet changes in the business climate and fend off fierce competition from European and US chemical companies, which have advantages of scale and earnings, as well as Asian corporate groups that have achieved tremendous development in recent years.

To tackle these circumstance - the three chemical companies - MCC, MPI and MRC must maintain their competitiveness. The need is to integrate their businesses, technology platforms and sales channels to accelerate the growth and globalization of their businesses.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Jacobs bags Monsanto Louisiana plant expansion contract

PASADENA, US: Jacobs Engineering Group Inc said that it was selected by Monsanto Company to provide engineering and procurement for a potential expans ...

Read more
Dupont to license cellulosic ethanol technology to Chinese firm

CHANGCHUN, CHINA: Dupont and Jilin Province New Tianlong Industry Co Ltd (NTL) said they have formed a licensing agreement to begin development of Chi ...

Read more
Dow, Olin chlor-alkali, derivatives deal gets favourable IRS ruling

MIDLAND, US: The Dow Chemical Company said that it has received a favourable private letter ruling from the US Internal Revenue Service with respect t ...

Read more
CF Industries in merger talks with Dutch fertilizer maker OCI

NEW YORK, US: Fertilizer maker CF Industries Holdings Inc is in advanced talks for a merger deal with Dutch counterpart OCI NV, as chemical companies ...

Read more
Shell to sell Elba LNG JV equity interest to partner Kinder Morgan

HAGUE, NETHERLANDS: Kinder Morgan Inc and Royal Dutch Shell Plc said that they have reached an agreement for Kinder Morgan to purchase 100 percent of ...

Read more
“Safer” replacements for harmful chemical in plastics may also be risky

NEW YORK, US: According to a new series of studies out of NYU Langone Medical Center, two chemicals increasingly used during manufacturing to strength ...

Read more