Corporation’, resolved to establish new subsidiaries through which it will acquire the polyvinyl alcohol resin business from Celanese Corporation (CEO: David N. Weidman, Headquarters: Texas, U.S.).
Outline of the subsidiaries to be established:
1. United States
1) Company name Sekisui Specialty Chemicals America, LLC
2) Location Dallas, Texas, U.S.
3) Name of representative Tsuyoshi Okano (President and COO)
4) Principal business Development, manufacturing and distribution of PVOH resins
5) Date of establishment mid-June 2009 (scheduled)
6) Capital USD 107 million (approx 9.7 billion yen)
7) Capital structure Sekisui America Corporation 100%
2. Spain
1) Company name Sekisui Specialty Chemicals Europe S.L.
2) Location Tarragona, Catalonia, Spain
3) Name of representative Tsuyoshi Okano (President and COO)
4) Principal business Development, manufacturing and distribution of PVOH resins
5) Date of establishment mid-June 2009 (scheduled)
6) Capital Euro 18 million (approx 2.3 billion yen)
7) Capital structure Sekisui Europe B.V. 100%
Sekisui America Corporation and Sekisui Europe B.V. are 100% wholly-owned subsidiaries of Sekisui Chemical.
Acquisition of Inter layer Film Raw Materials Business from U.S. Corporation (interim disclosure)
Date: 17 June 2009
Source: Sekisui Chemical Co.
We hereby announce that the Board of Directors of Sekisui Chemical Co., Ltd.(President: Naofumi Negishi, hereinafter Sekisui Chemical) on June 9, 2009, based on its announcement of April 27, 2009, ‘Acquisition of Interlayer Film Raw Materials Business from U.S.