Mitsui, Takeda in Urethane JV.(Mitsui Chemical Co.)(Takeda Chemical Industries Ltd.)(Brief Article)

Chemical Market Reporter, October, 2000

MITSUI CHEMICALS and Takeda Chemical Industries have agreed to form a joint venture to merge their urethane chemicals and composite materials product lines. The new company, Mitsui Takeda Chemicals Inc. (MTCI), will be 51 percent owned by Mitsui and 49 percent owned by Takeda. The JV is scheduled to start up in April 2001.

The new company will use facilities at the five plants owned by its parent companies. Five years after the start of operations, Mitsui will acquire Takeda's share of the joint venture. During its first year of operation, MTCI is projected to have sales of about [yen]110 billion ($1 billion).