By Anthony Clark, Plastics & Rubber Weekly (a Crain publication)
Mitsubishi Rayon's £1100 million ($1830 million) bid for Southampton, UK-based plastics giant Lucite has been completed following a delay caused by the Ministry of Commerce in Beijing, which voiced concerns about the impact of the deal on Lucite's manufacturing facilities in China.
The acquisition of Lucite will make Mitsubishi Rayon into the leading company in the world MMA monomer market, and it constitutes the first step in expanding the company's core business, according to the firm.
Despite being listed at the UK's 51st largest private company, the vast majority of Lucite 2000 workers are located overseas.
According to a search on the Lucite website, the following products contain polyurethane: Lucite SW, Lucite XL, Elvacite 4400, Lucite Antibacterial and Lucite Ice.