TOKYO, January 15, 2018 _ Ube Industries, Ltd. and Mitsubishi Chemical Corporation announced in a press release dated October 13, 2016, "Ube Industries and Mitsubishi Chemical Announce Tie-Up for Electrolyte Business in China," that the two companies had agreed to a tie-up for joint operations of their lithium-ion battery electrolyte businesses in China. With the procedures related to competition laws in China and relevant countries completed and the joint venture beginning operation in January of this year, the companies today announced the following details.
By utilizing their electrolyte business intellectual property and development capabilities in China through this joint venture, Ube Industries and Mitsubishi Chemical will further enhance their technologies and strengthen cost competitiveness.
The two companies will also continue to study additional possibilities for a global alliance in the electrolyte business.
|Company Name||Changshu UM Battery Materials Co., Ltd.|
|Address||(Head office and plant)
15, Dongzhou Road, Changshu Economic & Technological Development Zone, Jiangsu Province, China
Executive Officer and General Manager of Battery Materials and Fine Chemicals Division, Ube Industries, Ltd.
|Vice Chairman||Yuji Kitada
Senior Associate Director
Division General Manager, Lithium Ion Battery Materials Div. Mitsubishi Chemical Corporation
|President||Masaki Nakai (Seconded from Ube Industries)|
|Vice President||Junichi Nakayama (Seconded from Mitsubishi Chemical)|
|Capital Stock||RMB 159 million|
|Shareholders||Ube Industries (50%), Mitsubishi Chemical (50%) *|
|Business Description||Manufacturing and marketing of lithium-ion battery electrolytes|