Mitsui Chemicals to Consolidate its Three Agrochemicals Subsidiaries
Mitsui chemicals, Inc. (MCI) announced its decision to merge together its three agrochemicals subsidiaries, "Mitsui Toatsu Agricultural Chemicals, Inc." (MTN), "Sanchu Chemicals, Inc."(Sanchu) and "Santou Chemicals, Inc." (Santou) into a new stand-alone company called "Mitsui Chemicals Crop Life, Inc." (MCCL), effective July 1, 2005, in order to strengthen its agrochemical business.
Behind MCI's planned move this time is the company's Medium-term Business Plan covering 2004 through 2007, under which MCI has adopted expanding and growing the Performance Materials sector consisting of Functional Polymers, IT & Electronics Materials and Healthcare Materials businesses. Agrochemicals business is playing the major role in the area of Healthcare Materials and pushing ahead with expanding its profitability. At present, MCI Group's agrochemical business is directed under the setup, which MCI and MTN engage in the sale of the formulation products, while MCI develops and manufactures the technical (active ingredients) to be formulated by Sanchu and Santou.
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