MOSCOW (MRC) -- Japan’s Mitsubishi Chemical Corporation (MCC) has decided to consolidate its subsidiaries at the national level across three countries, including the US, Germany, and the UK, according to Chemicals Technology.
The integration of subsidiaries is said to be part of the company’s medium-term management plan.
In the US, MCC will be integrating its nine subsidiaries, including Lucite International, Mitsubishi Chemical Performance Polymers, Dianal America, Mitsubishi Chemical Imaging Corporation, Cleanpart USA, Mitsubishi Polyester Film, Mitsubishi Chemical Composites America, MC Ionic Solutions US and Mitsubishi Chemical America.
As part of the integration initiative, the Japanese chemical company will be consolidating its five subsidiaries in the UK, including Mitsubishi Chemical UK, Lucite International Trading, Lucite International Specialty Polymers & Resins, Nippon Gohsei UK and MC Ionic Solutions UK.
In Germany, MCC will be integrating five subsidiaries: Mitsubishi Chemical Carbon Fiber and Composites, Mitsubishi Chemical Europe, cleanpart Group, Cleanpart, and MCPP Europe.
Subsidiaries across the US, Germany and the UK will be integrated on 1 April 2021.
MCC anticipates that the integration of subsidiaries will enhance cooperation and further strengthen overall business capabilities in each of these three countries.
In another development, MCC acquired a ‘greenfield’ property at a large integrated site on the Mississippi River in Geismar, Louisiana, the US.
It also plans to advance its feasibility study for the design and construction of a 350,000mt Methyl Methacrylate (MMA) plant, which will be based on its proprietary ALPHA technology.
Currently, the project is in the early engineering stage and the final investment decision (FiD) is expected to take place in early 2022.
If the project gets approval, the plant would commence production in 2025.
Last month, Mitsubishi Chemical concluded a framework agreement with some Chinese companies for the transfer of its light metal products business.
The main application, consuming approximately 75% MMA, is in the production of polymethyl methacrylate acrylic plastics (PMMA). Methyl methacrylate is also used to produce methyl methacrylate-butadiene-styrene copolymer (MBS), used as a modifier for polyvinyl chloride (PVC).
According to MRC's ScanPlast report, October total production of unmixed PVC grew to 86,600 tonnes from 86,000 tonnes a month earlier, SayanskKhimPlast and Bashkir Soda Company increased their capacity utilisation. Overall output of polymer was 805,100 tonnes in the first ten months of 2020, which virtually corresponds to the last year"s figure. Two producers increased their production, whereas two other manufacturers reduced their output.