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UBE Announces Merger of Three Subsidiaries in Spain

April 1, 2016

TOKYO, April 1, 2016 _ Ube Industries, Ltd. today announced that it has integrated its three chemical subsidiaries in Spain, by merging UBE Chemical Europe, S.A.U. and UBE Engineering Plastics, S.A.U. into UBE Corporation Europe, S.A.U. (each headed by President Bruno De Bievre). The merger is effective March 31, 2016.

UBE Corporation Europe will continue to operate as a wholly-owned subsidiary of Ube Industries, Ltd., by absorbing its subsidiaries in Spain: UBE Chemical Europe and UBE Engineering Plastics.

UBE Corporation Europe is a holding company for the UBE Group in Europe that mainly oversees administrative operations for its two subsidiaries. UBE Chemical Europe manufactures and markets caprolactam, ammonium sulfate, and fine chemicals, and UBE Engineering Plastics manufactures and markets nylons.

In April 2015, Ube Industries launched a new Chemicals Company as part of an internal reorganization, by integrating the existing Chemicals & Plastics Company and Specialty Chemicals & Products Company. The reorganization of chemical units is aimed at rapidly restoring earnings from the chemicals segment, by accelerating the selective concentration of businesses in the chemicals segment and achieving the optimal allocation of business resources.

The UBE Group is also pursuing strategies for global expansion of the nylon business. In February 2015, UBE Engineering Plastics expanded its production capacity by 10,000 tonnes, bringing its current total capacity to 30,000 tonnes annually, with additional expansion plans under consideration. For caprolactam, which is used as a raw material to make nylon, the UBE Group is pursuing initiatives to enhance cost competitiveness.

The merger of the three Spanish subsidiaries will enhance the operational framework and achieve business efficiencies in Spain, as the UBE Group moves to further strengthen its business platform and secure growth.

Data for UBE Corporation Europe (as of March 31, 2016)

Name UBE Corporation Europe, S.A.U.
Business Description Manufacturing and marketing of nylon resin, caprolactam, ammonium sulfate, fine chemicals, and other products.
Established August 1994
Location Castellon City, Valencia, Spain
President Bruno De Bièvre
Capital Stock 6,312,000 Euro
Shareholder Ube Industries, Ltd. (100%)
Number of Employees 417

Data for UBE Group Subsidiaries in Spain (Pre-Merger)

Name UBE Corporation Europe, S.A.U.
Business Description Holding company overseeing business operations of Ube Group in Europe
Established August 1994
Location Castellon City, Valencia, Spain
President Bruno De Bièvre
Capital Stock 6,312,000 Euro
Shareholder Ube Industries, Ltd. (100%)
Number of Employees 172
Production Capacity (tonnes) -
Name UBE Chemical Europe, S.A.U.
Business Description Manufacturing and sales of caprolactam, ammonium sulfate, and fine chemicals
Established July 1967
Location Castellon City, Valencia, Spain
President Bruno De Bièvre
Capital Stock 34 million Euros
Shareholder UBE Corporation Europe, S.A.U. 90%
UBE Chemical Europe, S.A.U. 10%
Number of Employees 197
Production Capacity (tonnes) Caprolactam: 95,000
Ammonium sulfate: 400,000
   Diol: 4,500
   Polycarbonate diol: 6,000
Name UBE Engineering Plastics, S.A.U.
Business Description Manufacturing and sales of nylon resins
Established October 2001
Location Castellon City, Valencia, Spain
President Bruno De Bièvre
Capital Stock 13 million Euros
Shareholder UBE Corporation Europe, S.A.U. 100%
Number of Employees 48
Production Capacity (tonnes) Nylon resin: 30,000

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