Nippon Shokubai Co. (Osaka, Japan; www.shokubai.co.jp) has entered into a letter of intent with Takiron Co., Ltd. (Tokyo; www.takiron.co.jp) to transfer all of the shares of its subsidiary, Nippon Polyester Co. Final share transfer agreements will be signed after negotiations of transfer conditions.
Nippon Polyester started operation in Suita City, Osaka in 1952, has manufactured and sold FRP (fiberglass reinforced plastics) molding products as a pioneer, and has also expanded its business in polycarbonate resin sheets. Nippon Polyester employs 143 people and had sales 0f 5.209 million JPY.
Synergies between Nippon Polyester and Takiron will enable further growth, because Takiron has developed and released various resin products, including polycarbonates, and has strong capabilities in technology and marketing.