TOKYO, July 30, 2012_ Ube Industries, Ltd. today announced that it has established a local subsidiary in India to engage in sales and market development for Ube Group products in the Indian market. The new company is named Ube Industries India Private Limited and is owned by Ube (Thailand) Co., Ltd., a subsidiary in Thailand. The new subsidiary in India will begin operations in August 2012.
Ube Industries India will seek to capitalize on the rapidly growing Indian market, by expanding sales of nylon and fine chemicals that comprise the core business of the Ube Group’s operations in Thailand, and strengthening sales and raw materials procurement for the Group’s other business segments.
The Ube Group is endeavoring to strengthen its global business development by targeting growth markets centering on developing countries. As part of this effort, the Group established local sales subsidiaries in Brazil and South Korea in July 2010 and March 2011 respectively, followed by a subsidiary in Taiwan in December 2011.
The Group has already established a local subsidiary in India for the machinery business in December 2011. Ube Industries India has been established as part of the Group’s strategy for global business development, and is owned by the Ube Group subsidiary in Thailand due to the geographic proximity between the two companies.
|Company Name||UBE Industries India Private Limited|
|Location||Gurgaon District, Haryana|
|Business Description||Sales of chemical products, market development, and raw materials procurement|
|Capital Stock||16,000,000 Indian rupees|
|Shareholder||UBE (Thailand) Co., Ltd. (100%)|
|Representative||Anuchit Tiranuchit, President|
|Company Name||UBE(Thailand) Co., Ltd.|
|Business Description||Holding company|
|Capital Stock||120,000,000 bahts|
|Shareholder||Ube Industries, Ltd. (100%)|
|Representative||Charunya Phichitkul, President|