Mitsubishi Chemical Corp. (MCC; Tokyo) has decided to transfer all of its shares of Lucite International Japan Co., Ltd. to Midorikawa Chemical Industry Co., Ltd. Lucite Japan was established as an acrylic composite material production and sales base in Japan for Imperial Chemical Industries of the U.K. Since 1993, the company has been operating in Namegata City, Ibaraki Prefecture, responding to domestic demand for acrylic composite material, which is used in applications such as bathtubs, kitchens, and wash basins. Since MCC’s acquisition of Lucite International Group Limited, Lucite Japan has been operating as a group company of MCC. However, MCC has now made the decision to transfer all its shares in Lucite Japan to Midorikawa Chemical as part of portfolio reforms based on Mitsubishi Chemical Holdings Group’s management policy. The date of the transfer is scheduled to be April 1 of this year.
Mitsubishi Chemical to transfer Lucite International business to Midorikawa Chemical
| By Mary Bailey