Japan's Ube Industries, JSR Corp. and Mitsubishi Chemical Corp., have integrated their ABS resin businesses in a move which first announced in March 2017.
The integration will see JSR's wholly-owned subsidiary Techno Polymer Co. Ltd and UMG ABS Ltd, an equally-owned company by Ube Industries and Mitsubishi Chemical, integrating into Techno-UMG Co. Ltd.
In a Jan. 9 statement, JSR said the integration, originally scheduled to take effect Oct. 1, has now been completed with Techno-UMG set to start work April 1.
According to JSR, the scheduled start was delayed due to the time needed to complete the procedures stipulated in the competition laws, other laws and regulations applicable in relevant countries.
Techno Polymer and UMG ABS will jointly operate the integrated new company.
Techno-UMG will be based in Tokyo and will be manufacturing, process and marketing styrene resins, including ABS, AS, AES.
JSR will hold 51 percent of the shares while UMG ABS will hold the remaining 49 percent.