Shin-Etsu acquires total stake in Asia Silicones Monomer
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Shin-Etsu acquires total stake in Asia Silicones Monomer

9:51 AM, 24th May 2013
Shin-Etsu acquires total stake in Asia Silicones Monomer

 

TOKYO, JAPAN: Shin-Etsu Chemical Co Ltd has acquired the total shares indirectly held by General Electric Company of Asia Silicones Monomer Limited (ASM), which had been jointly managed by GE and Shin-Etsu. As of 17 May 2013, ASM became an indirectly wholly owned Shin-Etsu Chemical Group company. Shin-Etsu Chemical acquired the shares for about ¥15 billion ($147.4 million).

The aim of Shin-Etsu Chemical in making ASM a 100 per cent owned Shin-Etsu Group company is to further integrate the operations of ASM with those of Shin-Etsu Silicones (Thailand) Limited, which manufactures and sells silicone end-products. By these means, Shin-Etsu will expand its business in the Asian region by optimizing the efficiency of its silicone business operations in Thailand.

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