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Mitsui chemical company of Japan withdrew from the dye industry

Mitsui chemical company of Japan agreed to sell 50% of the common shares controlled in the local synthetic dye company Mitsui BASF joint venture to DyStar company. Mitsui chemical company withdrew from the dye industry in order to focus on developing the core petrochemical business before merging with Sumitomo chemical company in 2004

DyStar has previously purchased 50% of BASF's shares in the joint venture. DyStar should have no disclosure. This new transaction with Mitsui will enable DyStar to wholly own the company. Mitsui BASF company was established in 1974 by Mitsui chemical company of Japan and BASF company of high molecular materials, advanced composite materials and metal materials, a fatigue life testing system with a wide range of applications, reliable performance and low operating cost, which is jointly established with the Scientific Research Institute of the Chinese Academy of Sciences, universities and local scientific research institutions in bass, Germany

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