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Mitsubishi Gas Chemical Company, Inc.

The main feature of the Natural Gas Chemicals Company is the strong role played by natural gas. With commodity chemicals such as methanol, ammonia and formaldehyde, organic chemicals derived from these commodity chemicals and methanol-based biochemical products, the company has established a range of strongly linked businesses. The Natural Gas Chemicals Company even has a tie-up with the Specialty Chemicals Company for the production of polyacetal engineering plastic. In 1983, MGC moved its production base for the methanol business to Saudi Arabia and commissioned the world's first large-scale methanol tanker. Raw materials, technology, manufacturing, logistics, sales and the development of derivative products are all part of the same operation. In 1994, MGC established a production base in Venezuela in order to facilitate sales in the U.S. market, and is currently proceeding with plans to construct a second production facility in Venezuela. Furthermore, the company is conducting a feasibility study of Southeast Asia as a new supply base for the rapidly growing Asian market. Recently, attention has focused on dimethylether (DME) as an environmentally friendly form of energy, and MGC is proceeding with plans for DME operations in Western Australia. Along with its methanol business, the company is focusing on developing new businesses based on natural gas. At the same time, the company is streamlining production and improving profitability of urea and formaldehyde by closing urea production facilities and consolidating formaldehyde production facilities through alliances with other companies. In addition to its focus on esters and intermediates, MGC will also work aggressively to license its technology for methyl methacrylate (MMA). Manufacturers in Japan and abroad have expressed interest in the Company's superior production process that creates no ammonium sulfate by-product. In biochemical products, MGC will market enzymes and coenzymes produced through fermentation. The company is working to expand the biochemical business with the launch of new products including the hair tonic ASC Hair and Solica powdered catalase.