Deliver Your News to the World

Mitsubishi Chemical to Transfer its European Acrylic Sheet Business to Schweiter Technologies Group


WEBWIRE

Mitsubishi Chemical Corporation (MCC; Head office: Chiyoda-ku, Tokyo; President: Masayuki Waga) today announced its intent to transfer the acrylic sheet (PMMA sheet) business in Europe to Schweiter Technologies Group (STAG; Head office: Steinhausen, Switzerland). MCC will transfer the business, valued at 92 million British pounds (about 13.5 billion yen) along with shares of Perspex Distribution Limited (PDL), the U.K. domestic sales company for PMMA sheet manufactured by Lucite International UK Limited (LIUK), after splitting off LIUK’s PMMA sheet business.

STAG is one of the leading European plastic sheet producers, and its PMMA sheet business is a leading player in the industry. In addition, STAG is MCC’s strategic partner, as the MCC Group has been its longtime supplier of MMA monomer, which is a raw material for PMMA sheets.

The transfer of the MCC Group’s PMMA sheet business in Europe to STAG, which has a wide-ranging sheet product lineup and high cost competitiveness, will enhance the Group’s partnership with STAG, based on a continued supply of MMA monomer, as STAG expands its business in the European market.

Outline of the transfer to STAG

1.Scope of the transfer: PMMA sheet business in Europe operated by LIUK*1
                                 Shares of PDL*1
2.Production site: LIUK, Darwen, Lancashire, the U.K.
3.Net sales: Approx. 126 million British pounds
                 Approx. 18.5 billion yen (fiscal 2017)
4.Employees: 330*2 (as of September 2018)

*1 MCC Group companies based in the United Kingdom
*2 Include personnel serving in LIUK’s PMMA sheet business and PDL employees


( Press Release Image: https://photos.webwire.com/prmedia/6/229071/229071-1.png )


WebWireID229071





This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.