Mitsubishi Rayon, Daicel produce acetate tow cigarette filtres

Mitsubishi Rayon, Daicel to produce acetate tow for cigarette filtres

5:23 AM, 2nd May 2013
Mitsubishi Rayon, Daicel to produce acetate tow for cigarette filtres

TOKYO, JAPAN: Mitsubishi Rayon Co Ltd (MRC) and Daicel Corporation concluded a contract in August 2012 to establish a joint venture for the production of acetate tow for cigarette filtres. On this occasion, MRC and Daicel announced the establishment of the acetate tow production company, Toyama Filter Tow Co Ltd, as a joint venture of both companies on 1 May 2013, following the completion of business combination reviews by relevant agencies in accordance with individual countries’ antimonopoly laws. Toyama Filter Tow was established through a spin off by MRC in October 2012.

MRC has transferred 35 per cent of Toyama Filter Tow’s outstanding shares to Daicel, with MRC holding a 65 per cent interest and Daicel holding the remaining 35 per cent. Toyama Filter Tow supply its output to both MRC and Daicel, and both companies continue their independent sales activities.

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