By Liz White, UT staffTokyo-Mitsui Chemicals Inc. is to take control at its Mitsui Takeda Chemicals Inc. (MTCI) joint venture, and rename it Mitsui Chemicals Polyurethanes Inc. The joint venture, set up in April 2001 by Mitsui Chemicals and Takeda Chemical Industries Ltd (Takeda), "has built a strong position as a leading company in urethane and urethane derivatives in Asia," said Mitsui Chemicals, in a 3 March announcement. Mitsui Chemicals will purchase Takeda's equity interest of 49 percent in MTCI on 1 April 2006, in line with the terms agreed when MTCI was established. The urethanes unit will then become a wholly owned subsidiary of Mitsui Chemicals. Japanese chemicals group Mitsui explained that its current medium-term business plan aims for expansion and growth in performance materials business, describing the urethanes business as a core part of this segment. Mitsui Chemicals Polyurethanes will play a vital role in the development of Mitsui Chemicals Group, a company statement said. "Leveraging know-how and technologies acquired over many years in both urethane raw materials and urethane resins, Mitsui Chemicals Polyurethanes will seek to develop as a solutions-oriented company capable of helping customers solve the issues they face through polyurethanes," the group said. Outline of Mitsui Chemicals Polyurethanes* Capital Y20.0 billion ($170 million), 100 percent owned by Mitsui Chemicals Inc., and headquartered in Tokyo.* Net sales about Y120.0 billion (forecast for year ending 31 March 2006) * President: Masafumi Kataita * Business activities: research, manufacture and sales of urethane raw materials and urethane resins * No. of employees: approx 700 * Office in Tokyo (HQ), Osaka and Nagoya* Factories at Kashima (Ibaraki Pref.), Shimizu (Shizuoka Pref.), Nagoya (Aichi Pref.), Tokuyama (Yamaguchi Pref.), Omuta (Fukuoka Pref.) * Laboratories at Sodegaura (Chiba Pref.), Osaka "