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February 23, 2011 |
Asahi Kasei Chemicals Corp.
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Notice of Merger of Sanyo Petrochemical Co., Ltd.
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| Asahi Kasei Chemicals will absorb its wholly owned subsidiary Sanyo Petrochemical Co., Ltd. (hereinafter "Sanyo Petrochemical") by merger as described below. |
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| 1. Objective of the merger |
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Currently, the naphtha cracker of Asahi Kasei in the Mizushima industrial zone is operated by Sanyo Petrochemical. By merging Sanyo Petrochemical with Asahi Kasei Chemicals, we will achieve an optimum, efficient management configuration for the unified naphtha cracker operations of Mitsubishi Chemicals and Asahi Kasei, which are scheduled to start on April 1, 2011. |
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| 2. Outline of the merger |
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| 1) Scheduled date: |
April 1, 2011 |
| 2) Method of merger: |
The merger will be implemented by way of merger by absorption, with Asahi Kasei Chemicals as surviving company. Sanyo Petrochemical will be dissolved. |
| 3) Effect on financial results: |
There will be no effect as Sanyo Petrochemical is a wholly owned subsidiary of Asahi Kasei Chemicals. |
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| Corporate profile of Sanyo Petrochemical Co., Ltd. |
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| President: |
Yuji Kobayashi |
| Head office: |
Tokyo, Japan |
| Establishment: |
July 1968 |
| Paid-in capital: |
¥2.0 billion |
| Shareholder: |
Asahi Kasei Chemicals Corp. (100%) |
| Main products: |
Olefins, benzene, and benzene by-products |
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| Click here for PDF |
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