Mitsubishi Rayon Co., Ltd. (Tokyo, Japan; www.mrc.co.jp) completed its purchase of Lucite International Group Ltd. of the U.K., on May 28, 2009. The total acquisition cost was approximatley $1.6 billion. The acquisition of Lucite International will make Mitsubishi Rayon into the leading company in the world methyl methacrylate (MMA) monomer market, and it constitutes the first step in expanding the Company’s core business, which is a priority issue under its current medium-term plan for three years to March 2011.
Mitsubishi Rayon will become the sole possessor of the world’s current three main technologies for MMA production, and the Company will be the largest maker of MMA monomer with a balanced production structure encompassing the U.S., Europe, and East Asia.
Mitsubishi Rayon completes its acquisition of Lucite International
| By Dorothy Lozowski