Ube Industries announced today that it has bought a majority stake in Advanced Electrolyte Technologies (AET; Midland, MI) and intends to raise its stake further by end of March. AET was originally established in December 2011 as an equally owned joint venture between Ube and Dow Chemical. Ube tells CW that it increased its stake in the jv in December to 70% and plans to raise this to 80.5% by end of fiscal 2014, ending 31 March 2015. Financial details of the transaction have not been disclosed.
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