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Tosoh board approves plan to absorb Nippon PU subsidiary

2:50 AM MDT | May 22, 2014 | Deepti Ramesh

Tosoh says that its board of directors, at a meeting earlier this month, approved a merger agreement for the previously announced plan to merge Tosoh with its wholly owned Nippon Polyurethane Industry Co. (NPU; Tokyo) subsidiary. NPU, which was established in 1960, produces and sells raw materials for polyurethane (PU)—methylene di-para-phenylene isocyanate and toluene diisocyanate—and PU derivatives. For NPU's fiscal year, ended 31 March, the company reported sales of ¥111.5 billion ($1.09 billion) and net profits of ¥2.90 billion...

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