- Region: Asia
- Manufacturing and Services
- Overseas Investment Loans
June 27, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement with Mitsui Chemicals Functional Composites (Shanghai) Co., Ltd. (MFS), a subsidiary of Mitsui Chemicals, Inc. (Mitsui Chemicals) in the People's Republic of China. The loan is cofinanced with private financial institutions.
- The loan is intended to finance the manufacturing and sales businesses of performance compound*1, which are materials for automobile window frames, interior materials and fuel tanks, and food packing materials, by MFS in Shanghai, China, a wholly owned subsidiary of Mitsui Chemicals.
- Mitsui Chemical plans to strengthen its functional polymeric materials business through newly establishing MFS, a manufacturing and sales base in China where the automobile and food packing materials markets are expected to grow backed with steady economic growth. Thus, this loan contributes to maintaining and improving the international competitiveness of Japanese industries, through supporting of the overseas business deployment of Mitsui Chemicals.
- As a public financial institution, JBIC will continue to support overseas business deployment of Japanese companies, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
- *1 Performance compound is the compound which combines an additive with a synthetic resin provided from a production plant directly to make grade depending on a purpose.