TOKYO, May 7, 2010 _ Ube Industries, Ltd. today announced that it has decided to establish a local subsidiary in Brazil, which will serve as a launch pad for developing the market for Ube Group products in Central and South America.
The new subsidiary,
, will be established in July 2010 in Sao Paolo, Brazil. Ube Industries' subsidiaries in Spain, Ube Corporation S.A. and Ube Chemical Europe S.A., will invest in the new company, which will be the first base of operations for the Ube Industries Group in South America.
The Ube Industries Group currently operates international manufacturing and marketing bases in Spain, Thailand and China. The region covering Central and South America is considered a prime future market for the Ube Industries Group, based on several factors including the rate of economic growth, the scale of the market and its potential for growth in the region. Ube Industries' subsidiaries in Spainhave already been involved in initiatives to expand their regional business with Central and South America, leveraging strong economic and cultural ties between Spain and the region.
By establishing a local subsidiary in Brazil, the Ube Industries Group will enhance its efforts to develop markets in Central and South America for sales of key products including nylon, caprolactam, ammonium sulfate and fine chemicals offered by Ube Chemical Europe S.A. and Ube Engineering Plastics Europe S.A.
In addition, the Brazilian subsidiary is envisioned to spearhead the development of markets for other products offered by the Ube Industries Group and provides service support for Ube machinery, to accelerate business expansion in Central and South America.
| Company name | |
|---|---|
| Location | Sao Paolo, Brazil |
| To Be Established | July 2010 |
| Capital Stock | 350,000 real |
| Shareholders | Ube Corporation Europe S.A. (99%), Ube Chemical Europe S.A. (1%) |
| President | Katsuji Morimoto, Vice CEO of Ube Corporation Europe S.A. |
| Company name | Ube Corporation Europe S.A. |
|---|---|
| Location | Castellon, Spain |
| Business Description | Chemicals business coordination in Spain |
| Capital Stock | 6.313 million Euros |
| Shareholders | Ube Industries, Ltd. (100%) |
| President and CEO | Ricardo Lopez |
| Company name | Ube Chemical Europe S.A. |
|---|---|
| Location | Castellon, Spain |
| Business Description | Manufacturing and sales of caprolactam, ammonium sulfate and fine chemicals |
| Capital Stock | 34.265 million Euros |
| Shareholders | Ube Corporation Europe S.A. (100%) |
| President and CEO | Ricardo Lopez |
