Japan Polychem Corporation, a wholly owned subsidiary of Mitsubishi Chemical Corporation, has decided to acquire the stock of the following overseas–based Japan Polypropylene Corporation (JPP) Group companies and there by transfer the polypropylene compound (PPCP) business and FUNCSTER thermoplastic resin reinforced with long glass fiberbusiness held by JPP, a joint venture between JPC (ownership: 65%) and JNC Corporation (JNC; ownership: 35%), from JPPto JPC.
Through the transfer, MCC aims to expand the PPCP and FUNCSTER businesses. Since co–founding JPP in 2003, JPC has used the joint venture to conduct business in polypropylene, PPCP, and FUNCSTER both in Japan and overseas. Demand for PPCP and FUNCSTER is expected to grow thanks to their usefulness in making automobiles lighter.
Moving forward, the MCC Group will continue to accelerate growth in these businesses by leveraging JPP’s technical prowess and the Group’s diverse business bases around the world to meet customer needs promptly and effectively.