Mitsui Chemicals acquires 51% stake in Korean company

Business Feb. 23, 2013 - 04:12AM JST ( 0 )

TOKYO —

Mitsui Chemicals (MCI) announced Friday that it has entered into a share purchase agreement with shareholders of KOC Solution (KOC), a Korean manufacturer and distributor of plastic optical lenses monomers, to acquire 51% of the Company’s shares.

Following acquisition of the shares, the company will become a subsidiary of the Mitsui Chemicals Group.

MCI seeks to expand worldwide sales of its competitive edge high index lenses while actively developing its low index lenses business through methods including M&As, such as the 2011 acquisition of ACOMON of Switzerland which holds a global distribution network in this field.

KOC manufactures plastic optical lens monomers with middle index to high index with its main market being China.

By making KOC a subsidiary of the MCI Group, the Group hopes to further strengthen its position as a world leader in plastic optical lenses monomers and enhance its presence on the global market.

JCN Newswire