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Home | News |Mitsubishi Chemical Holdings to absorb 100% owned chemicals, plastics units
Mitsubishi Chemical Holdings to absorb 100% owned chemicals, plastics units
Updated: 2016-03-02 10:18 Source: Market Report Company share:

Mitsubishi Chemical Holdings Corp. (MCHC) has unveiled plans for an absorption-type split-off of the existing operations of its wholly-owned Mitsubishi Chemical Corp. (MCC) and Mitsubishi Plastics Inc. (MPI) subsidiaries, reported Apic-online.

With effect from 28 Mar. 2016, the rights and obligations of MCC and MPI will be centralized as a unit of MCHC as the succeeding company to be led by Hitoshi Ochi as president and chief executive.

Since the split involves wholly-owned subsidiaries, there will be no compensation to MCC and MPI.

MCHC in December said it planned to integrate MCC, MPI and Mitsubishi Rayon through a merger in April 2017, with Mitsubishi Rayon as the merging company. No mention of Mitsubishi Rayon was made in MCHC's most recent announcement.

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