Mitsubishi Chemical Corporation (MCC; Head office: Chiyoda-ku, Tokyo; President: Masayuki Waga) announced plans to acquire the PVC compound producer, PT. ABC Plastindo (Plastindo; Head office: Tanggerang, Indonesia; President: Tan Pwee Kheng). MCC intends to acquire 100% of Plastindo's shares from the founders in August of this year.
Plastindo is engaged in PVC compound business in Indonesia and its products are used for various applications including automotive components, electronic cables, buildings and electrical appliances. The company has established a stable position in the Indonesian market.
On the other hand, MCC has taken a proactive approach to mergers and acquisitions in the performance polymers business, expanding in Europe, North & South America, China, and other markets around the world. It has thermoplastic elastomer and PVC compound production sites in Thailand, operating its business mainly for automotive application. With the acquisition of Plastindo, MCC will further accelerate its business expansion into the automotive and electronic cable fields throughout the booming ASEAN region.
MCC will continue to enhance its performance polymers business through diversifying its application portfolio and accelerating business development in growth markets.
