Showa Denko KK (JP:4004) has released an update.
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Resonac Holdings Corporation has resolved to establish Crasus Chemical Inc., a new wholly owned subsidiary, to prepare for the spin-off of its petrochemical business, which accounts for 20% of its net sales. The spin-off aims to advance the green transformation of the petrochemical sector and enhance profitability and competitiveness. The new entity, Crasus Chemical Inc., will be formed by August 1, 2024, and is expected to have a minimal impact on Resonac’s consolidated financial results.
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