Tokyo, Jan 4, 2012 - (JCN Newswire) - Showa Denko K.K. (SDK) completed the transfer of its automotive air-conditioner heat exchanger business to Keihin Corp. (Keihin) on January 1, 2012 by transferring 60% of shares in Thermal Technology Corp.
SDK first announced on June 6, 2011 that it signed a final agreement on the transfer with Keihin and that the transfer would take effect in October 2011. Then SDK announced on September 21, 2011 that the transfer would be postponed by three months, to January 1, 2012, due to expected delay in competition-law-based procedures in China.
SDK's performance forecast for 2011, to be announced later, will reflect the influence of this business transfer.
About Showa Denko
Showa Denko K.K. ('SDK'; TSE: 4004, US: SHWDF) is a major manufacturer and marketer of chemical products serving a wide range of fields ranging from heavy industry to the electronic and computer industries. SDK makes petrochemicals (ethylene, propylene), aluminum products (ingots, rods), electronic equipment (hard disks for computers) and inorganic materials (ceramics, carbons). The company has overseas operations and a joint venture with Netherlands-based Montell and Nippon Petrochemicals to make and market polypropylenes. In March 2001, SDK merged with Showa Denko Aluminum Corporation to strengthen the high-value-added fabricated aluminum products operations, and is today developing next-generation optical communications-use wafers. For more information, please visit www.sdk.co.jp .
Contact:
Showa Denko K.K. (SDK)
IR & PR Office
Tel: +81-3-5470-3235
Jan 4, 2012
Source: Showa Denko
Showa Denko (TSE: 4004) (U.S: SHWDF)
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
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