TOKYO-Tuesday, March 27th 2018 [ AETOS Wire ]

(BUSINESS WIRE) -- Mitsui Chemicals, Inc. (TOKYO:4183)(President & CEO: Tsutomu Tannowa) has decided to set up a new production facility for MILASTOMER™ thermoplastic olefin elastomer at the Ohio-plant of its U.S. subsidiary Advanced Composites, Inc. (President: Keiji Shite).

Overview of New Production Facility

1. Product

MILASTOMER™

2. Location

Advanced Composites, Inc., Ohio plant

3. Capacity

1 production line; 6,000 tons/year

4. Schedule (tentative)

Construction begins January 2019. Completion in June. Operations commence in October.

The primary ingredients of MILASTOMER™ thermoplastic olefin elastomer are olefin rubber and olefin resin. With its low density, light weight and excellent moldability, Mitsui Chemicals markets the soft resin worldwide as a substitute for vinyl chloride and vulcanized rubber. The many uses for MILASTOMER™ include auto parts, building gaskets, toothbrushes, golf club grips and more. Global demand is projected to rise, primarily for applications such as automotive interior covers, weather strips, air bag covers and steering bellows. Demand for use in automotive interior covers is expected to expand especially in North America.

Mitsui Chemicals currently owns production centers in Japan, Europe and China. The new facility in the U.S. will address growing demand in North America and serve as the company's fourth production base worldwide. Mitsui Chemicals America, Inc. will sell MILASTOMER™ in North America, while Advanced Composites, Inc. will handle production.

As Mitsui Chemicals is working to further strengthen its MILASTOMER™ business, the company will provide a safe and steady supply by correctly gauging global growth in demand so as to continue expanding business.

Overview of Advanced Composites, Inc.

1. Established

June 1986

2. Capital and Stakes

US$14,100,000

Mitsui Chemicals America, Inc. (wholly owned by Mitsui Chemicals): 59.8%

Prime Polymer Co. Ltd.: 3.0%

Mitsui & Co. Ltd. (incl. Mitsui Plastics, Inc.): 27.0%

Marubeni America Corporation: 10.2%

3. President

Keiji Shite

4. Head Office and Plants

Head Office: Ohio

Plants: Ohio, Tennessee

5. Business

Production, sale and research of polypropylene compounds

Contracted production of MILASTOMER™ (to be added October 2019)

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180326006195/en/

Contacts

Mitsui Chemicals, Inc.

Takashi Kawamoto, +81-3-6253-2100

Corporate Communications Division

takashi.kawamoto@mitsuichemicals.com

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