TOKYO, September 1, 2017 _ Ube Industries, Ltd., JSR Corporation, and Mitsubishi Chemical Corporation previously signed a shareholders agreement for the integration of the ABS resin businesses of their respective subsidiaries, as announced on March 30, 2017. The integration concerns Techno Polymer Co., Ltd., a wholly-owned subsidiary of JSR, and UMG ABS, Ltd., which is equally owned by Ube Industries (50%) and Mitsubishi Chemical (50%). The integration was scheduled to take effect on October 1, 2017, with Techno Polymer and UMG ABS jointly operating the integrated new company.
The integration is to take the form of an absorption-type split, with UMG ABS as the absorbed company and Techno Polymer as the successor company. The absorption-type split (start of the integrated new company) was scheduled to take effect on October 1, 2017. However, the date will be delayed due to the length of procedures stipulated in competition laws, other laws and regulations, applicable in relevant countries.
An announcement will be forthcoming once the day that the absorption-type split will take effect (day that the new company will be started) is decided.