# Mitsui Chemicals and Asahi Kasei to establish joint venture for nonwovens business

Mitsui Chemicals and Asahi Kasei will establish a new company, M.A Life Materials, through a joint incorporation-type split, to take over their nonwovens businesses in Japan and Thailand. The company will have a capital of 500 million yen, with Mitsui Chemicals holding 60.62% and Asahi Kasei 39.38%, and is scheduled to be established on October 2, 2023.

- Type: Acquisition
- Announced: 2023-02-01
- Where: Japan and Thailand, Japan
- Value: $3.70M (500.0M JPY)
- Status: announced
- Products: nonwovens, spunbond, cartridge filters
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Mitsui Chemicals](https://endata.com/companies/19809.md)
- [Asahi Kasei](https://endata.com/companies/8888.md) (partner)
- [Mitsui Chemicals](https://endata.com/companies/19809.md) (partner)

## Sources

- [mitsuipr.com](https://www.mitsuipr.com/news/2023/0302-3/), 2023-03-02: "三井化学（橋本修社長）は、旭化成と共同新設分割により新会社を設立し、両社の国内とタイでの不織布事業を承継させる。"
- [quiminet.com](https://www.quiminet.com/noticias/mitsui-chemicals-y-asahi-kasei-se-unen-para-formar-nueva-empresa-de-no-tejidos-4615846.htm), 2023-03-03: "Mitsui Chemicals y Asahi Kasei, dos de los principales jugadores en la industria japonesa de no tejidos, han anunciado que formarán una nueva empresa integrada que combina sus negocios de no tejidos."
- [nonwovens-industry.com](https://www.nonwovens-industry.com/top-company-profile/asahi-kasei/), 2023-09-11: "In February 2023, Asahi Kasei and Mitsui Chemicals... announced a plan to form a new integrated company combining their nonwovens businesses with a tentative start date of October 2, 2023."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.