SEOUL CHOSEN AS HEADQUARTERS FOR MITSUI CHEMICALS AND SKC JV

摘要

Details of the joint venture between Mitsui Chemicals and SKC have been revealed. The joint venture follows the statement in February 2014 at Mitsui Chemicals' Q3 2013 results presentation by Toshikazu Tanaka, president and ceo, who said: "with unwavering determination, we will initiate the measures and tactics full force to assure realisation of a V-shaped turnaround." Tanaka was looking to restructure in an attempt to stem losses and return to profitability. The proposed joint venture has no name yet, but the 50:50 firm will be based in Seoul and is scheduled to come into existence on 1 April 2015, SKC and Mitsui said.