Tokyo - Tosoh Corp. has acquired the remaining shares of its subsidiary Nippon Polyurethane Industry Co. Ltd from Hodogaya Chemical Co. Ltd, following a 13 July board meeting.
NPU, now Tosoh's wholly owned subsidiary, makes MDI (methylene diphenyl diisocyanate) and TDI (toluene diisocyanate). Tosoh first made NPU a subsidiary in April 2006 and then raised its stake in the company to 80.28 percent in May 2008.
Tosoh said there is an urgent need for NPU to recover profitability, through integrated management and streamlined operations.
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