Mitsubishi Chemical Corporation and Tokai Carbon Co., Ltd have agreed to transfer their carbon black assets into a new joint venture to jointly operate the two businesses. Tokai will control 60 percent of the shares, with Mitsubishi holding the remaining 40 percent. The reason is to "create synergy of production, sales, technology and so on in Japan." in the short term, and over the longer term, "strengthening the competitive edge of quality, cost, supply and so on in Asian market," accordng to a statement from Tokai Carbon.
Mitsubishi will include its SBR carbon master batch activities to the un-named joint venture, which is due to begin operations in April 2005. Tokai is said to be Japan's largest producer of carbon black. The new company will have annual sales of approximately Â¥20 000 million (â‚¬150 million).
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Tokai Carbon news release (Japan)