Mitsubishi Chemical Corporation (MCC), has planned to take over PT. ABC Plastindo (Plastindo), the PVC compound producer, headquartered at Tanggerang, Indonesia acquiring 100% of Plastindo’s shares from the founders in August of this year.
Plastindo, incorporated in 2009, has an established PVC compound business in Indonesia. Plastindo has a workforce of 60 people as of June, 2018. Its products are used for various applications including automotive components, electronic cables, buildings and electrical appliances. The company has a stable position in the Indonesian market.
Contrary to Plastindo, MCC has adopted a proactive strategy of mergers and acquisitions of businesses in the performance polymers business and is going ahead with the expansion in Europe, North & South America, China, and other markets around the world. The thermoplastic elastomer and PVC compound production sites of the MCC in Thailand mainly serve the needs for the automotive application. With the acquisition of Plastindo, MCC will further accelerate its business expansion into the automotive and electronic cable fields throughout the booming ASEAN region.
Diversifying its application portfolio and accelerating business development in growth markets, MCC is focusing on the performance polymers business and expanding the same.
Masayuki Waga, President and CEO, MCC, said, “By combining our diverse range of products and technologies, we will create value for society, and will continue to grow in step with the changing world. Adhering to the highest ethical standards, we will seek to ensure safe and stable operations, thereby maintaining the trust of all stakeholders, and contribute to society.”