Mitsubishi Rayon to promote M&A strategy

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Mitsubishi Rayon Co will promote its merger and acquisition strategy and actively pursue business alliances in order to beef up its acrylic resin-related operations. The company has the top share of the Asian market for methyl methacrylate (MMA) monomer, an acrylic resin used for such items as light guide plates of liquid crystal displays.

Mitsubishi Rayon, which currently ranks fourth in the global MMA monomer market, aims to win the second spot. The company plans to build a new carbon fiber plant in Otake, Hiroshima Prefecture, in order to boost its annual production capacity to 10,850 tons from the current 8,150 tons. The new plant is slated to come into operation in October-December 2009. Mitsubishi Rayon also plans to raise its annual MMA monomer capacity to 577,000 tons from 397,000 tons.