Posted in | News | Plastics and Polymers | Packaging

Hesei Polymer to Become a Wholly Owned Subsidiary of Showa Denko

Mar 23 2004

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Showa Denko and Hesei Polymer Co, have agreed that Hesei will become a wholly owned subsidiary of Showa Denko by means of a share exchange. The share exchange is due to take place on August 3.

The share exchange will involve the trade of one Hesei share for 0.41 Showa Denko shares. Consequently Showa Denko will issue 4,732,196 new shares of its common stock.

After the share exchange has taken place, there will be no immediate changes to Hesei. They will continue to operate as Hesei Polymer, with the same president, head office and location.

Hesei is a key player in Showa Denko’s plastics operation. They have concentrated their resources on cloth film after having transferred their packaging and laminate operation to Showa Denko in 2001

For more information on packaging materials, click here.

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