Showa Denko Showa Denko K.K. (SDK; Tokyo, Japan; www.sdk.co.jp) has announced a transaction in which it will transfer its phenolic resins business to Aica Kogyo Co. Ltd. Annual sales of the business were ¥4 billion in 2014.
SDK plans to establish a new company in May 2015. In September 2015, the new company will take over the phenolic resin business of SDK through absorption-type split and commence business. Then, SDK will transfer 85% of the new company’s shares to Aica. The remaining 15%, to be owned by SDK, will also be transferred to Aica within two years after the initial transfer.
SDK’s phenolic resins business has provides phenolic resins in various states, such as liquid, lumps, powder, and grains, for wide-ranging uses, including electronic materials, housing equipment and paints.