Jan 28 2003
Mitsubishi Chemical have agreed to transfer their share of BASF Dispersions, (a the joint venture between Mitsubishi Chemical and BASF) to BASF Japan.
The two companies have also agreed that BASF will transfer their share of Mitsubishi Chemical Foam Plastic Corporation, (another joint venture), to Mitsubishi Chemical.
Previously, these two joint ventures were part of another joint venture company set up between the two organisations, Mitsubishi Chemical BASF Co., which was established in 1962. In 1999, this organisation split into the two joint ventures specialising in polymer dispersions and foam plastics.
The Mitsubishi Chemical BASF joint venture continued to exist after 1999, but was only responsible for managing assets and other business minor business activities common to the two joint ventures. Following the dissolution of the other two joint ventures, Mitsubishi Chemical will acquire BASF’s share of Mitsubishi Chemical BASF.
This stage of restructuring has been agreed upon to suit the new focuses of each of the two companies. The two companies have also agreed to collaborate in the future and maintain a good working relationship.
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