Mitsui and Marubeni to merge LPG operations

Jun 12, 2007 02:00 AM

Major Japanese trading houses Mitsui & Co. and Marubeni said they have agreed to integrate their liquefied petroleum gas operations.
The agreement calls for the two companies to merge their LPG units -- Mitsui Liquefied Gas and Marubeni Liquefied Gas -- in April next year.

The two units' sales subsidiaries will be integrated into a single company a year later.
The move is designed to boost efficiency and competitiveness at a time when the Japanese LPG industry is struggling with stagnating domestic demand.

In December last year, Mitsui, Marubeni and another Japanese trading house, Sumitomo, announced plans to discuss integration of the three firms' LPG units. But Sumitomo walked out due to differences over basic strategy.
Sumitomo said it remains to be seen if the company will go it alone in LPG operations and that the company may consider integrating its LPG unit with another company.

Source / Jiji Press English News Service
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