Mitsui Chemicals (MCI), Tohcello and Mitsui Chemicals Fabro, (Fabro) have entered into a Fundamental Agreement to study integration of film/sheet businesses of the three companies.
Under the Fundamental Agreement, the companies are expected to study integration of film/sheet businesses by merging operations of Tohcello and Fabro and consolidating them with MCI’s related operations to form a new company by October 2010.
The MCI Group’s film/sheet business synergy will be maximised by integration of management resources currently spread over different divisions within the Group.
The company said that one of the fundamental strategies of the MCI Group is expansion of high-value added business to achieve sustainable growth. As part of the strategy, the Group has decided to intensify its film/sheet businesses.
Reportedly, in April 2009, Tochello has became a wholly owned company of MCI. The Group is studying integration of MCI’s and Fabro’s film/sheet business with Tohcello at the core.