October 29, 2002 Asahi Kasei Corporation

Withdrawal of Acrylic Fiber Operations

Asahi Kasei Corporation today announced that it will withdraw from the field of acrylic fibers, with operations comprising the product families of CashmilonTM acrylic staple, PewlonTM acrylic filament, and LastanTM acrylic-based flame-resistant fiber. Despite persistent devotion of the utmost effort to a strategic revitalization of acrylic fiber operations, a final determination was reached that withdrawal would be an unavoidable facet of the endeavor to achieve structural reformation of the fibers and textiles operating sector in accordance with the newly announced Ishin-05 Corporate Midrange Strategic Initiative to accelerate selectivity and focus in the business portfolio and to advance the expansion of high-earnings businesses. The earnings power of the fibers and textiles sector will be heightened through a focused expansion of spandex, nonwovens, and other operations which command competitive superiority.

Operating climate and background
The principal segment of Asahi Kasei acrylic fiber operations is CashmilonTM which has confronted intensively challenging conditions with steadily declining domestic Japanese demand for acrylic staple and recurring swings in raw material costs and exchange rates, hampering its ability to obtain consistent profitability. A range of measures have been implemented to enhance the operational structure to the greatest possible degree. These include increasing focus on high-value specialty products, elimination of excess production capacity, and streamlining of sales functions. While improvements have been manifest, a level of performance which would warrant new investment remained elusive. It was thus determined that withdrawal could not be avoided.
Feedstock handling, spinning solution, and solvent recovery systems and equipment for PewlonTM and LastanTM are in large part shared with those for CashmilonTM. To continue PewlonTM and LastanTM operations after a cessation of CashmilonTM production would require substantial additional investment for plant modification. As this was deemed impractical, PewlonTM and LastanTM operations will be withdrawn in conjunction with CashmilonTM.

Schedule and course of transition

Conclusion of production is scheduled for the end of March 2003, with sales scheduled to be completed by the end of June 2003. To enable this schedule to be implemented as smoothly as possible, Asahi Kasei will work in close coordination with its customers who have bestowed their valuable patronage over the decades to help them secure a transition to alternative materials with a minimum of complication. Plans are being formulated for the reassignment of Asahi Kasei personnel involved in acrylic fiber operations.

Profile of Asahi Kasei acrylic fiber operations

Asahi Kasei was Japan's first acrylic fiber manufacturer, with commercial production of CashmilonTM staple based on proprietary technology beginning in 1959 at its Fuji Plant. Widely used in sweaters and blankets, acrylic staple is characterized by its soft, wool-like feel. From early on, CashmilonTM found strong demand in overseas markets. In 1962 Asahi Kasei constructed an acrylonitrile plant at its petrochemicals complex in Kawasaki, establishing an integrated production infrastructure from feedstocks to fibers. PewlonTM filament was commercialized in 1967, and LastanTM flame-resistant fiber was commercialized in 1986, with acrylic fibers forming a core segment of Asahi Kasei's fibers and textiles operating sector.

Total fiscal 2001 sales: Yen 15.0 billion (non-consolidated)
 For CashmilonTM: Yen 12.0 billion
 For PewlonTM: Yen 2.2 billion
 For LastanTM: Yen 0.8 billion
Plant location: Fuji City, Shizuoka Prefecture
Personnel: 189
Fiscal 2001 production:
 69,000 tons CashmilonTM
 1,900 tons PewlonTM
 230 tons LastanTM

Kyodo News August 9, 2003

Kanebo to pull out of acrylic fiber-business

Kanebo Ltd. said Friday it will pull out of its loss-making acrylic fiber business by the end of March 2004 due to dim prospects for a recovery of profitability in the business.
The diversified textiles company said its wholly owned subsidiary, Kanebo Gohsen Ltd., will stop production by the end of December and sales by the end of March 2004.

May 2, 2003 Mitsubishi Rayon Co., Ltd.                                                              
Mitsubishi Rayon Acquires Acrylic Filament Technology from Asahi Kasei Corp.
Groundwork Laid for Further Expansion of Acrylic Fiber Operations.
Mitsubishi Rayon Co., Ltd. in April 2003 acquired the proprietary technology relating to acrylic filaments belonging to Asahi Kasei Corp., in addition to a portion of Asahi Kasei's production facilities for the said filaments. Furthermore, an agreement has been reached to acquire Asahi Kasei's related trademark rights (for PEWLON, TACTUS, and REECAS) with effect from July 2003.
Acrylic fiber is renowned for the ease with which it can be dyed in brilliant colors, as well as for its light weight and softness. Thanks to its wool-like feel, acrylic staple is extensively used for sweaters, blankets, stuffed toys and other clothing, bedding and interior goods applications. Acrylic filaments, meanwhile, combine brilliant, shiny coloring with a unique silkiness and coolness in hot weather: these properties make it ideal for ladies
sweaters for spring and summer wear.
Mitsubishi Rayon is a comprehensive manufacturer of acrylic products, the largest in Japan, with a wide product lineup ranging from wet- and dry-spun staple through filament to synthetic leather. It is currently constructing a production plant at Ningbo in China's Zhejiang Province, scheduled to start operation in July 2005 to take advantage of the rapidly expanding Chinese market. This is only one of many steps the management are taking to reinforce Mitsubishi Rayon's position as the overwhelmingly dominant company in its industry in Asia.
As part of a reorganization of its fiber operations,
Asahi Kasei withdrew from the business of manufacturing acrylic filaments as of the end of March 2003, leaving Mitsubishi Rayon as the world's sole producer. In these circumstances, the transfer by Asahi Kasei to Mitsubishi Rayon of its advanced technology for the production of acrylic filaments allows the latter to effectively promote the virtues of acrylic filament textiles for a wider range of applications.
The acquisition of the know-how in question from Asahi Kasei will enable Mitsubishi Rayon to more firmly reinforce the technology that underpins its acrylic filament Silpalon, and prepares the way for a full-scale expansion of the Company's acrylic filament business, including the development of high-quality, high-performance products with a view to the eventual construction of additional production facilities.

December 9, 2002 Mitsubishi Rayon Co., Ltd.

Acrylic Fiber Joint Venture Planned in China

Mitsubishi Rayon Co., Ltd. plans to set up an acrylic fiber manufacturing and sales company in the city of Ningbo, Zhejiang Province, China. The new subsidiary, establishment of which has been approved by the Chinese authorities, will be established in February 2003 with a total investment of approximately $100 million. The Company's partners in this joint venture are to be the Ningbo United Investment Holding Corp., Ltd., and the three Japanese trading companies Mitsubishi Corp., Itochu Corp., and Marubeni Corp.
Acrylic fibers are popular for their pleasant feel, easy colorability, and durability. They are extensively used in clothing such as sweaters, underwear, and socks, as well as other textile products like stuffed toys, blankets, carpets and other interior goods.
Acrylic fiber consumption in China amounted to around 960,000 tons in 2002. Total demand should reach 1,050,000 tons or thereabouts by 2005, partly due to rising demand for reprocessing for export following China's membership of the WTO, among other favorable factors.
In addition to filaments, as well as wet-spun and dry-spun staple, Mitsubishi Rayon's acrylic fiber operations also encompass artificial suede products.
Mitsubishi Rayon is the world's only manufacturer to offer such a wide range of acrylic fiber products. With an annual production capacity of 136,000 tons of raw acrylic fiber at the Otake Production Center, the Company is Japan's largest producer of acrylic fiber products.
Our many years
experience in the manufacture of acrylic fibers, combined with precise, cutting-edge technology and strong cost-competitiveness, have produced a lineup of high-quality, value-added products that have won us an excellent reputation both in Japan and overseas.
The new joint venture in China is part of the Company's strategy aimed at becoming the world's top maker in both acrylic staple and acrylic filaments by trengthening its operational base and improving profitability.
The new company will start commercial operation in July 2005, with annual sales envisaged at approximately \8
9 billion three years later.

Outline of Company:
Name (tentative): Ningbo Rayon Acrylic Fibers Co., Ltd.
President: To be decided
Address: Qingzhi Park, Ningbo Economic & Technical Development Zone, Beilun Ningbo, Zhejiang, China
Paid-in capital: US$50 million
Investment stakes (subject to change):
   Mitsubishi Rayon Co., Ltd. 55%
   Mitsubishi Corp. 10%
   Itochu Corp. 10%
   Marubeni Corp. 10%
   Ningbo United Investment Holding Corp., Ltd. 15%
Business line: Manufacture and sale of acrylic fibers
Production capacity: 50,000 tons per annum

December 10,2001 Mitsubishi Rayon Co., Ltd.

Mitsubishi Rayon receives approval to the project for manufacturing acrylic fibers in China
In November, the State Development Planning Commission of the People's Republic of China approved of an application submitted in August, 2000 by Mitsubishi Rayon, Co., Ltd., three Japanese trading companies and a Chinese investment company for the manufacture of acrylic fibers in China. This is the first case that the Chinese government gives an approval to a joint venture with foreign companies for manufacturing acrylic fibers in the country.
With this approval, Mitsubishi Rayon and its partners take their project a stage further promptly.

Demand for acrylic fibers in China is expected to top 900,000 tons in this year, 500,000 tons of which are expected to be produced domestically. With China's recent entry into the World Trade Organization, the demand for imported acrylic fibers is expected to greatly increase.

Application details:                                                                  
1. Scheduled site:
    Ningbo Economic and Technical Development Zone, Zhejiang Province, PRC
2. Total Investment:
    approx. US$100 million
3. Production Scale:
    50,000 tons/year
4. Capital:
    US$50 million
5. Scheduled Investors:
    Japan-Mitsubishi Rayon, Co., Ltd. 55%
        Mitsubishi Corporation    10%
        Marubeni Corporation    10%
        Itochu Corporation      10%
    China-Ningbo United Investment Holding Corp., Ltd.  15%


2004年8月24日 旭化成せんい




2004/8/25 日本経済新聞


1. インドネシア旭化成清算の背景
2. インドネシア旭化成清算手続きの予定日程
(1) 予定日程 : 生産・営業の終了   2004年(平成16年)11月(予定)  
           会社清算の開始    2004年(平成16年)12月(予定)
(2) インドネシア旭化成採用の従業員につきましては本年11月末を目処に全員解雇する予定です。

(1) 会社名 : P.T. INDONESIA ASAHI KASEI (インドネシア旭化成)        
(2) 設立等 : 1972年7月設立  1974年6月操業         
(3) 所在地 : 本社:インドネシア共和国ジャカルタ特別州
(4) 資本金 : 18.6百万US$        
(5) 大株主 : 旭化成せんい株式会社(83.7%)        
(6) 代表者 : 溝口 隆久        
(7) 業 種 : アクリル紡績糸およびナイロン糸の製造販売        
(8) 従業員数 : 1,168名(2004年6月末現在)        
(9) 売上高推移 :

2001年3月期   3,889億ルピア
2002年3月期   3,767億ルピア
2002年12月期(9ヶ月)   2,401億ルピア
2003年12月期   3,085億ルピア
2004年中間期(6ヶ月)   1,590億ルピア