SUMITOMO BAKELITE CO., LTD. (Tsuneo Moriya, President) and NITTOBOSEKI CO., LTD.
(Atsuhiko Sagara, President) reached a basic agreement for establishing a new
joint-venture by combining the melamine decorative laminate business of each
company.
Unless adverse comment is given by the Fair Trade Commission on the
occasion of their prior hearing , we are oing to work over detailed program to
establish this new company by October 1, 2001.
The business environments
around high-pressure melamine decorative laminates are confronted with difficult
aspects such as the prolonged depression of the construction industry, the
intensified competition with other building materials due to the diversification
of user's preference, which are getting harder for the manufacturers every
year.
Under these situations both companies noticed that it would be the most
appropriate choice of countermeasures to unify the production, marketing and
R&D of both companies, which would surely afford better business
efficiencies for strengthening competitiveness especially in cost
.
|
| (Outline of New Company) |
| 1. |
Company Name: |
To be decided later. |
| 2. |
Capital: |
2 billion yenin plan (Investment ratio: SUMITOMO 66.7%, NITTOBOSEKI 33.3%) |
| 3. |
Establishment: |
Estimated on October 1,
2001 |
| 4. |
Location of
the Head Office |
in Tokyo |
| 5. |
President and Executives: |
President to be appointed from SUMITOMO
BAKELITE CO., LTD.,
Vice President to be from NITTOBOSEKI CO.,
LTD. |
| 6. |
Business Lines: |
Manufacture and sales of high-pressure
melamine decorative laminates related products ( Finished articles, post-formed
products, etc.) |
| 7. |
Employees: |
270 approx. (To be transferred from both
companies ) |
| 8. |
Locations: |
Factories:
|
Fujieda city, Suzuka city |
| Sales Offices: |
Tokyo, Osaka city, Nagoya city, Sapporo city, Sendai city,
Hamamatsu city, Hiroshima city and Fukuoka city |
| Research Laboratory: |
Suzuka city |
|
| 9. |
Production capacity: |
300,000 sheets per month ( in terms of 3'×6') |
| 10. |
Sales: |
16.0 billion yen approx. per year (by fiscal year 2003) |
| 11. |
Profiles of Both Parent
Companies: |
See
below |
|
|
| For further information contact the following
persons: |
| General Affairs Department, SUMITOMO
BAKELITE Co., Ltd. |
Mr. Munehisa Miyazaki, Supervising
Manager
General Affairs Department
(TEL) +81-3-5462-3433
(FAX) +81-3-5462-4873 |
|
|
| NITTOBOSEKI CO., LTD. |
Mr. Makoto Goto, General Manager
Group
Supervisor, General Affairs Department
(TEL) +81-3-3865-6683
(FAX) +81-3-3865-6721 |
Thank you.
|
|
| Outline of Both Parent
Companies |
| Company
Name: |
SUMITOMO BAKELITE
CO., LTD. |
NITTOBOSEKI CO.,
LTD. |
| Headquarters: |
2-5-8 Higashi Shinagawa,
Shinagawa ward, Tokyo, Japan |
Aza-Higashi
1-Banchi,Gonome, Fukushima City, Fukushima Pref. Japan |
| RepresentativeDirector: |
Tsuneo Moriya,
President |
Atsuhiko Sagara,
President |
| Capital: |
26.8 billion yen
|
19.7 billion yen |
| Sales
Turnover: |
121.5 billion yen |
90.5 billion yen |
| Main
Products: |
Semiconductor related
products,circuitry products, electroniccomponent materials, industrial
resinmaterials, medical devices andapparatus, building materials, packaging
related materials andproducts, etc. |
Textiles,
constructionmaterials, glass fibers,bio-chemicals, engineeringservices,
etc. |
| Main
Stockholders: |
Sumitomo Chemical Co.,
Ltd |
The Chuo Mitsui Trustand
Banking Co., Ltd.,The Industrial Bank ofJapan, Ltd. |
|
|
|
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