Calgon Carbon Corp has entered into a nonbinding Memorandum of Understanding with Mitsubishi Chemical Corp about buying Mitsubishi Chemical’s 51% equity interest in Calgon Mitsubishi Chemical Corp.
Calgon Mitsubishi Chemical, a joint venture between Calgon Carbon and Mitsubishi Chemical, has been engaged in the manufacture, reactivation, sale and research and development of activated carbon in Japan since 2002. Calgon Mitsubishi Chemical had sales of approximately ¥8.7 billion in 2008.
John Stanik, Calgon Carbon’s president and chief executive officer said: “We are pleased to pursue the opportunity to significantly increase our presence in Japan which is the single largest market for activated carbon excluding the United States. Additionally, this acquisition would provide significant depth, experience and resources to our Asian regional organization.”