Asahi Kasei to Spend 400 Billion Yen on M&As, Production Facilities
Posted on: Thursday, 29 December 2005, 12:00 CST
By Kyodo News International, Tokyo
Dec. 29--TOKYO -- Asahi Kasei Corp. will invest up to 400 billion yen to finance both production facility construction and merger and acquisition deals during the subsequent five-year period, the head of the chemical maker has said.
"Our performance's recovery and enhanced financial profile have made it possible for us to adopt strategic investment policies," Asahi Kasei President Shiro Hiruta said in a recent interview with Kyodo News.
The firm will funnel greater resources into its large-scale integrated circuit business, Hiruta said, adding, "We will conduct M&As and expand production at the Nobeoka factory" to hike the LSI market share. The factory is in Miyazaki Prefecture.
As for the firm's chemicals operations, he said, "We would like to push up performances in the acrylonitrile and other products segments where we have (technological) advantages." As for the locations where the firm would conduct chemicals-related capital outlays, he said, "We would do that in any country if only necessary conditions were satisfied, such as the availability of material substances and marketing routes" for the resultant goods.
Asked about the upsurge in the cost of naphtha for use in plastic and shopping bags, Hiruta said, "I do not expect the cost to fall sharply" down the track.
"It is necessary for the (chemical) industry to make efforts to reduce its dependency on crude oil on the basis of technological innovations and the effective use of resources," he added.
-----
To see more of Kyodo News International, go to http://www.kyodonews.com
Copyright (c) 2005, Kyodo News International, Tokyo
Distributed by Knight Ridder/Tribune Business News.
For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail reprints@krtinfo.com.
AHKSY, 3407,
Source: Kyodo News International, Tokyo
Related Articles
- Tokyo International Airport Installs Lockheed Martin WindTracer Lidar System
- Alcar Chemicals Firms Up International Licensing Program
- The Global Search for Top Talent is On; Executive Search Firm Dahl-Morrow International Opens European Office
- Narita Airport Firm to Pay 1st Dividend to Gov't
- World's Largest International Robot Fair Opens in Tokyo
- FTC Raids Agrichemical Firm Over Alleged Antitrust Law Violation
- Tobacco Firm Alliance One International to Move Home Base to Morrisville, N.C.
- Medical Staffing Firm to Conduct Internal Investigation
- Firm Cashes in on Google Warrants
- Japanese Firm to Start International Internet-Protocol Phone Service
 |
 |
User Comments (0)
RSS Feeds