TOKYO, January 12, 2012_ Ube Industries, Ltd. today announced that it has established a local subsidiary in Taiwan to engage in market and sales development for Ube Group products in the Taiwanese market. The new subsidiary, called Ube Taiwan Co., Ltd., was established in December 2011 and will start operating in February 2012.
Taiwan is an important market for chemical products such as caprolactam, with strong growth in the electrical and electronic sectors and the presence of many leading companies. These factors have increased the need for Ube Industries to strengthen its approach to market development in Taiwan, by creating new demand and expanding the customer base with a focus on specialty chemicals and products.
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, and established a local subsidiary in India for the machinery business in December 2011.
The establishment of the Taiwanese subsidiary slots into the Group’s strategy for global business development. The new subsidiary will endeavor to expand the business by maintaining and enhancing close trading relationships with existing customers in Taiwan, while gathering information and pursuing activities to develop new markets for the Ube Group as a whole.
|Company Name||Ube Taiwan Co., Ltd.|
|Start of Operation||February 2012 (Scheduled)|
|Capital Stock||10 million Taiwan dollars|
|Shareholder||Ube Industries, Ltd. (100%)|
|Representative||Masaki Hirai, President
(Presently Caprolactam Sales Group Leader, Caprolactam Business Unit, Chemicals & Plastics Company)