Asahi Chemical Industry Co., Ltd. (Asahi
Chemical) and Ciba Specialty Chemicals (Ciba) announced
today that they have reached an agreement under which
Ciba's equity holding of their fifty-fifty joint venture,
Asahi-Ciba Limited (Asahi-Ciba), will be transferred
to Asahi Chemical on 28 April 2000.
Following the change in ownership,
the company name is scheduled to be changed from Asahi-Ciba
to Asahi Kasei Epoxy Co., Ltd. on 1 June 2000. No notable
change in the company's present business operations
will accompany these changes.
In addition to continued growth for
its specialty epoxy resins in the field of electronics,
Asahi Chemical will expand the scope of Asahi Kasei
Epoxy's operations to include new composite materials
using Asahi Chemical Group technologies for polyurethane
and silicone resins.
Outline of present Asahi-Ciba
| Paid-in capital: |
¥300 million (approx. CHF
4.5 million) |
| Shareholding: |
50%, Asahi Chemical; 50%, Ciba |
| Head Office: |
Minato Ward, Tokyo |
| President: |
Atsushi Aoshima |
| Scope of business: |
Development, manufacture, and
sale of epoxy resins. |
| Operating locations |
|
|
Sales Offices: Tokyo and Osaka |
|
R&D Lab: Takarazuka |
|
Production plant: Mizushima |
| Production capacity: |
37,000 metric tons/year
|
Changes accompanying transfer
| Company name: |
Asahi Kasei Epoxy Co., Ltd. |
| Shareholding: |
100%, Asahi Chemical |
| Trademark change: |
Araldite® A.E.R.® becomes
A.E.R.®
|
Corporate Profiles of Asahi Chemical
and Ciba Specialty Chemicals
Asahi Chemical Industry Co., Ltd.
| Head Office: |
1-1-2 Yuraku-cho, Chiyoda-ku, Tokyo |
| Paid-in Capital: |
¥103.4 million (31 March 1999) |
| FY 1998 Sales (consolidated): |
¥1,171.8 billion |
| No. of Employees: |
29,263 (31 March 1999, consolidated)
|
With operations ranging from electronics
to pharmaceuticals and medical products, fibers and
textiles, chemicals and plastics, and housing and construction
materials, Asahi Chemical is engaged in a corporate
reformation directed toward rapid transformation to
a growth-oriented business portfolio focused on advancement
of competitive-superiority businesses and related operations,
with a high-efficiency corporate management system,
to thrive in the emerging era of international rules-based
competition. Sales for the fiscal year ended 31 March
2000 are estimated at ¥1.2 trillion.
Ciba Specialty Chemicals (SWX:CIBN)
| Establishment: |
March 1997 (Specialty Chemicals
operations of the former Ciba-Geigy spun off and
formed an independent firm.) |
| Head Office: |
Basel, Switzerland |
| Paid-in Capital: |
CHF 3,685 million |
| FY 1999 Sales (consolidated): |
CHF 8,972 million |
| No. of Employees: |
approx. 20,000
|
Ciba Specialty Chemicals is a leading
company dedicated to producing high-value effects for
our customers' products. Our specialty chemicals, such
as additives, dyestuffs, pigments, consumer care chemicals,
polymers, and water treatments, added in small quantities,
enhance the performance, look and feel of the final
product. Business success is driven by our long-term
strategy of innovation and continuous operational improvements.
Ciba brings new and creative thought to the processes
and products of our customers in more than 117 countries.
Ciba generated sales of CHF 9 billion in 1999 and spent
300 million on R&D to foster innovation across the Company.
|
