Establish New PP(Polypropylene) Compounds Sales and Manufacturing Company with Mitsui Chemicals Group in the Netherlands

May 30, 2018

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
Image of the new company (supplied by Mitsui Chemicals)Image of the new company (supplied by Mitsui Chemicals)