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Lucite Acquisition Closes

8:02 AM MDT | June 15, 2009

Mitsubishi Rayon has completed the $1.6-billion acquisition of Lucite International (Southampton, U.K.). Completion follows the Chinese government’s recent conditional approval of the deal. Buying Lucite makes Mitsubishi Rayon, the leading producer of methyl methacrylate (MMA) in Asia, into the leading MMA producer worldwide. Mitsubishi Rayon has a global MMA market share of 35% based on production in Asia, Europe, and the U.S. following the acquisition. The deal has also made Mitsubishi Rayon the sole possessor of the three main technologies for MMA...

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