Japan’s Ube Industries, JSR Corp., and Mitsubishi Chemical Corp., have integrated their ABS resin businesses, in a move which had been previously announced in March 2017.
The integration will see JSR’s wholly-owned subsidiary Techno Polymer Co. Ltd and UMG ABS Ltd, an equally-owned company by Ube Industries and Mitsubishi Chemical, integrating into Techno-UMG Co. Ltd.
In a statement on 9 Jan, JSR said the integration, which was scheduled to take effect on 1 Oct 2017, has now been completed with Techno-UMG set to start work 1 April.
According to JSR, the scheduled start was delayed due to the time needed to complete the procedures stipulated in the competition laws, other laws and regulations applicable in relevant countries.
Techno Polymer and UMG ABS will be jointly operating the integrated new company.
Techno-UMG will be based in Tokyo and will be manufacturing, process and marketing styrene resins, including ABS, AS, AES.
JSR will hold 51% of the shares of the company while UMG ABS will hold the remaining 49% of the shares.