Mitsubishi Chemical Corp. (MCC; Tokyo; www.m-chemical.co.jp) announced its intent to transfer its acrylic sheet (PMMA sheet) business in Europe to Schweiter Technologies Group (STAG; Steinhausen, Switzerland). MCC will transfer the business, valued at 92 million British pounds (about 13.5 billion yen) along with shares of Perspex Distribution Limited (PDL), the U.K. domestic sales company for PMMA sheet manufactured by Lucite International UK Limited (LIUK), after splitting off LIUK’s PMMA sheet business. STAG is one of the leading European plastic sheet producers, and its PMMA sheet business is a leading player in the industry. In addition, STAG is MCC’s strategic partner, as the MCC Group has been its longtime supplier of MMA monomer, which is a raw material for PMMA sheets. The transfer of the MCC Group’s PMMA sheet business in Europe to STAG, which has a wide-ranging sheet product lineup and high cost competitiveness, will enhance the Group’s partnership with STAG, based on a continued supply of MMA monomer, as STAG expands its business in the European market. The acquisition includes LIUK’s production site in Darwen, Lancashire, U.K.
Mitsubishi Chemical sells its European acrylic-sheet business
| By Mary Bailey