OREANDA-NEWS. Idemitsu Kosan Co.,Ltd. hereby announces that Idemitsu Kosan and Lion Idemitsu Composites Co., Ltd. have agreed to the transfer of the PPS (polyphenylene sulfide) resin business of Idemitsu Kosan to Lion Idemitsu Composites.

1. Background to Business Transfer
Idemitsu Kosan has been expanding its PPS resin business since 1987. This agreement on the business transfer has been reached based on an assumption that the planned transfer of business to Lion Idemitsu Composites will improve the efficiency of PPS resin business and that the integration between the products of Lion Idemitsu Composites and PPS resin will enhance product lineups and expand the scope of business.

In order to further develop PPS resin business in future, every effort will be made to maximize the strength of Lion Idemitsu Composites.
2. Overview of Business Transfer
* Date of business transfer: October 1, 2013
* Subjects of transfer: All assets, production technology patents, etc., relating to PPS resin business

Lion Idemitsu Composites will also take over and handle transactional relationship with customers who have been doing business with Idemitsu Kosan to date.