Tokyo, Japan―Tosoh Silica Corporation (headquarters: Minato Ward, Tokyo), a member of the Tosoh Group, recently decided to establish a joint venture with Namhae Chemical Corporation of South Korea and construct a base to produce silica for use in fuel-efficient tires.
Demand for silica for fuel-efficient tires is expected to increase in line with a continued reduction in automotive fuel consumption as well as a shift towards vehicle electrification. Silica exhibits superior effectiveness in improving tire performance by reducing rolling resistance, which leads to enhanced automotive fuel economy.
Utilizing the advanced technological capabilities it has cultivated, Tosoh Silica will establish the second production base overseas to satisfy robust demand, ensure a stable supply of products, and strengthen the profitability of the business.
| 1. Joint Venture Company |
| Company Name: |
Tosoh Namhae Silica Corporation |
| Established: |
March 3, 2020 |
| Location: |
Yeosu City, Jeolla Province, Republic of Korea |
| Investment Ratio: |
Tosoh Silica 67%, Namhae Chemical 33% |
| Business: |
Manufacture and sales of silica for fuel-efficient tires |
| Commercial operation: |
October 2021 (planned) |
| 2. Tosoh Silica Corporation |
| Established: |
October 1959 (wholly owned subsidiary of Tosoh Corporation) |
| Location: |
Headquarters: Minato Ward, Tokyo; Factory: Shunan City, Yamaguchi Prefecture |
| Business: |
Manufacture and sales of various types of silica and synthetic gypsum |
| 3. Namhae Chemical Corporation |
| Established: |
May 1974 |
| Location: |
Yeosu City, Jeolla Prefecture, Republic of Korea |
| Business: |
Manufacture and sales of chemical fertilizer |
TOSOH CORPORATION
WHO WE ARE
Tosoh Corporation is the parent of the Tosoh Group, which comprises over 100 companies worldwide and a multiethnic workforce of over 12,000 people and generated net sales of ¥786.1 billion (US$7.2 billion at the average rate of ¥108.7 to the US dollar) in fiscal 2020, ended March 31, 2020.
WHAT WE DO
Tosoh is one of the largest chlor-alkali manufacturers in Asia. The company supplies the plastic resins and an array of the basic chemicals that support modern life. Tosoh’s petrochemical operations supply ethylene, polyethylene, and functional polymers, while its advanced materials business serves the global semiconductor, display, and solar industries. Tosoh has also pioneered sophisticated bioscience systems that are used for the monitoring of life-threatening diseases. In addition, Tosoh demonstrates its commitment to a sustainable future in part by manufacturing a variety of eco-products.
Stock Exchange Ticker Symbol: 4042
DISCLAIMER
This document may contain forward-looking statements, including, without limitation, statements concerning product development, objectives, goals, and commercial introductions, which involve certain risks and uncertainties. Forward-looking statements are identified through the use of the word anticipates and other words of similar meaning. Actual results may differ significantly from the results expressed in forward-looking statements.