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- Mitsui & Co., Ltd.
Corporate Communications Division
Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) has decided to subscribe to a share issue by Novus International, Inc. ("Novus"), a U.S. manufacturer of livestock feed additives, which it owns jointly with Nippon Soda Co., Ltd. ("Nippon Soda"). Mitsui will accept the entire share issue, which will be implemented in May 2016. Following this new investment, Mitsui will own an 80% equity stake in Novus and Nippon Soda 20%.
Novus was established in 1991 when Mitsui and Nippon Soda acquired the feed additive business of the U.S. company Monsanto. Feed additives play an important role in the efficient growth and health of animals. Demand is expanding steadily because of the urgent need to increase food production on a global level. Methionine, in particular, is an essential amino acid required for growth in chickens. Novus is one of the world's leading manufacturers of methionine.
Mitsui, through this investment, will strengthen the business base of Novus and expand the methionine and other feed additive business. In particular, the expansion of the production capacity of methionine in North America is the core of its growth strategy, and Mitsui will accelerate necessary actions, including engineering work for the expansion.
Mitsui is working to provide solutions to global food problems through its initiatives in the food and agriculture area, which is one of the seven Key Strategic Domains identified in its current Medium-term Management Plan. By further expanding Novus International's feed additive business, Mitsui aims to enhance its contribution to the global development of the livestock industry.
|Head Office||St. Charles, Missouri, U.S.A.|
|Business||Manufacture and sales of feed additives|
Nippon Soda: 20%
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
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