TOKYO, October 29, 2014 _ Ube Industries, Ltd. today announced that it has made the decision to establish a subsidiary in Mexico to engage in marketing and market development for products offered by the UBE Group.
The subsidiary, named UBE Mexico S.de R.L. de C.V. (tentative) will start operations in January 2015. UBE Corporation Europe, S.A. and UBE America Inc., which are subsidiaries of Ube Industries based in Spain and the United States respectively, will take a joint stake in the subsidiary.
The establishment of the subsidiary is aimed at capitalizing on market growth in Mexico by increasing sales of nylon resins and fine chemicals that are the main products of UBE Corporation Europe, and engaging in marketing and material procurement for other products offered by the UBE Group. The UBE Group will seek to accelerate its business expansion efforts by leveraging advantages in Mexico including language shared with Spain and the U.S., geographic location, and the regulatory environment.
The UBE Group is developing its global business centering on growth markets in emerging countries. UBE Mexico will be the second subsidiary established by UBE Corporation Europe, which established a subsidiary in Brazil in July 2010. The subsidiary is the UBE Group's second company in Mexico, joining a Mexican subsidiary in the machinery business that was established in February 2014.
| Company Name | UBE Mexico S.de R.L. de C.V. (tentative) |
|---|---|
| Location | Mexico City, Mexico |
| Business Description | Marketing, market development, and materials procurement in Mexico for products of the UBE Group |
| Established | January 2015 (scheduled) |
| Scheduled Start of Operation | January 2015 (scheduled) |
| Capitalization | US$200,000 (equivalent) |
| Shareholder | UBE Corporation Europe, S.A. (70%), UBE America Inc. (30%) |
| President | Masahiko Nojima (Executive Officer of Ube Industries, Ltd.) |
| Location | Castellon City, Valencia, Spain |
|---|---|
| Business Description | Holding company overseeing business operations of Ube Group in Europe |
| Capitalization | €6,313,000 |
| Shareholder | Ube Industries, Ltd. (100%) |
| President | Masahiko Nojima (Executive Officer of Ube Industries, Ltd.) |
| Location | New York City, New York, USA |
|---|---|
| Business Description | Marketing, market development, and materials procurement in North America for products of the UBE Group |
| Capitalization | US$5,520,000 |
| Shareholder | Ube Industries, Ltd. (100%) |
| President | Shin Kawasuso |
