Effective 28 May, Mitsubishi Rayon (MRC, Tokyo / Japan; www.mrc.co.jp) has completed its purchase of acrylics manufacturer Lucite International (Southampton / UK; www.lucite.com) for USD 1.6 bn (EUR 1.13 bn) – see Plasteurope.com of 14.05.2009. Lucite becomes a consolidated subsidiary of Mitsubishi Rayon and its assets and liabilities will be included on the balance sheet of the Japanese company as of 30 June, the end of the first quarter of its fiscal 2009.

The acquisition provides Mitsubishi Rayon with production facilities in Europe, the US and Asia. It becomes the leading global manufacturer of MMA monomer, with a 35% stake, and the sole possessor of the world’s three main production processes, including Lucite’s proprietary Alpha technology. Mitsubishi Rayon says the deal is its first step towards becoming a trillion yen enterprise.