Japan’s Fair Trade Commission have approved the merger between Sumitomo Chemical Co and Mitsui Chemicals Inc, with certain conditions. The merger will create the worlds fifth largest chemical company and Japan’s largest, toppling Mitsubishi Chemical Corp from that position.
The planned merger will see the two organisations operations integrated in October 2003, before the fully fledged merger in April of the following year.
Under anti-monopoly laws the merged company will be required to sign long term supply contracts with other companies to supply:
- 9000 tonnes per year of aniline
- 1600 tonnes per year of resorcinol
- 5000 tonnes per year of m-cresol/p-cresol
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