| For Immediate Release
June 26, 2008
Mitsui Chemicals, Inc.
Mitsui Chemicals Acquisition of SDC Technologies,
Inc.
Mitsui Chemicals, Inc. ("MCI") announced today
that on June 25, 2008 (PDT) it completed the acquisition of
all the outstanding shares of common stock of Silvue Technologies
Group, Inc. ("Silvue"), the holding company for
SDC Technologies, Inc. ("SDC"), which manufactures
and sells high performance coating materials for plastics
and non-ferrous metals.
Under its new Mid-term Business Plan starting in fiscal 2008,
MCI has set forth a basic strategy for the Advanced Chemicals
Business Sector to increase its business scale by focusing
on M&A and establishing a third pillar in addition to
the Performance Materials and Basic Chemicals Business Sectors.
Through this acquisition, the Vision Care Materials business
is aiming to enhance its profitability as a core business
driven by ophthalmic lens materials.
We believe the acquisition of SDC will open up several promising
new areas for the MCI Group, including entry into ophthalmic
lens coating materials. This will accelerate MCI's own development
of new coating materials, which will further enhance the growth
and expansion of the Vision Care Materials business.
MCI will also seek additional synergies from the acquisition
through cooperation between a broad range of its businesses
and the newly acquired resources from SDC to create significant
value add.
Overview of SDC
- Company Name: SDC Technologies, Inc. (President &
CEO William A. Gregg)
- Head Office: Irvine, California.
- Offices: Irvine, California: R&D, manufacture, sales
Chiba, Japan: Manufacture, sales Wales (U.K.): Sales Shanghai
(China): Sales
- Line of Business: Manufacture and sales of high performance
coating materials for plastics, glass and non-ferrous metals
Application: Ophthalmic lenses, automotive materials, etc.
- Employees: 60 employees
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