Posted in | News | Materials Processing | Business

Mitsui Chem/Sumitomo Chem Merger Plans Abandoned

Mar 31 2003

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The planned merger between Mitsui Chemicals Inc and Sumitomo Chemical Co, (approved on December 16) has been abandoned.

In press releases issued by both companies, they stated that they had not reached an agreement regarding the share swap ratio.

If the merger had gone ahead, they would have formed the fifth largest chemicals company in the world.

Despite the failure of this merger, they said that they may consider other strategic allianced in the future.

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