Mitsui Chemicals (MCI) announced Friday that it has entered into a share purchase agreement with shareholders of KOC Solution (KOC), a Korean manufacturer and distributor of plastic optical lenses monomers, to acquire 51% of the Company's shares.
Following acquisition of the shares, the company will become a subsidiary of the Mitsui Chemicals Group.
MCI seeks to expand worldwide sales of its competitive edge high index lenses while actively developing its low index lenses business through methods including M&As, such as the 2011 acquisition of ACOMON of Switzerland which holds a global distribution network in this field.
KOC manufactures plastic optical lens monomers with middle index to high index with its main market being China.
By making KOC a subsidiary of the MCI Group, the Group hopes to further strengthen its position as a world leader in plastic optical lenses monomers and enhance its presence on the global market.© JCN Newswire