Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga), in partnership with Mitsui Chemicals, Inc. ("Mitsui Chemicals", Head Office: Tokyo, President and CEO: Tsutomu Tannowa) and Prime Polymer Co., Ltd. ("Prime Polymer", Head Office: Tokyo, President and CEO: Naoshi Hamada, Mitsui Chemicals 65%, Idemitsu Kosan Co., Ltd., 35%), has resolved to jointly establish Mitsui Prime Advanced Composites Europe B.V., a new company in the Netherlands specializing in production, sales, technology service and R&D function of polypropylene compounds ("PP Compounds").
Strengthened environmental regulations have driven an increasing global needs for lighter weight of the vehicles, and the demand of PP Compounds, typically being used in variety of parts such as bumpers and various external as sell as internal parts, is rising every year to meet such need. This joint establishment of new company in Europe will contribute to enhance the global business development.
In the "Mobility" domain, being set as one of the strategic business areas, Mitsui & Co. will continue pursuing projects of key materials development, with aims to contribute in achieving a sustainable societys.
Overview of the new company
|Company Name (provisional)||Mitsui Prime Advanced Composites Europe B.V.|
|Location||Chemelot Industrial Park, Limburg, the Netherlands|
|Establishment||Planned for June, 2018|
|Capital||€18.4 million (about ¥2.4 billion)|
|Ownership||Mitsui Chemicals 75%, Mitsui & Co. 15%, Prime Polymer 10%|
|Production Capacity||30,000 tons / year|
|Beginning of Operations||Planned for June, 2020|