Mitsubishi Rayon Co., Ltd. has officially completed acquisition of UK's Lucite International Group Limited and will convert the company into a consolidated subsidiary. On November 11, 2008, Mitsubishi Rayon Co., Ltd. announced its intention to purchase Lucite International. The company recently announced that all procedures required for the said purchase and the inclusion of Lucite International in the Company's scope of consolidation were completed on May 28, 2009. The acquisition of Lucite International will make Mitsubishi Rayon into the leading company in the world methyl methacrylate (MMA) monomer market, and it constitutes the first step in expanding the Company's core business, which is a priority issue under our current medium-term plan for three years to March 2011.
Mitsubishi Rayon will become the sole possessor of the world's current three main technologies for MMA production, and the Company will be the largest maker of MMA monomer with a balanced production structure encompassing the United States, Europe, and East Asia. Due to this production system and its superior technology, including the new ethylene process (Alpha technology) of MMA production, the Company will be well-placed to satisfy all its customers' needs, thereby achieving growth.
30-May-09 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}