Prime Evolue Initiates Building Metallocene LLDPE Production Plant in Singapore

Prime Evolue Singapore Pte. Ltd. ("EVLS") a joint venture of Prime Polymer Co., Ltd. ("PRM") and Mitsui & Co., held a groundbreaking ceremony for its new production plant for Evolue(metallocene polymer) with the attendance of Mr. Eugene Leong, Director for Energy and Chemicals, Singapore Economic Development Board, and other dignitaries. Evolue boasts impressive strength, airtightness, and heat sealability, combined with low odor and good fish-eye. Rapid growth is expected in Asia bolstered by expansion of highly functional sealant material demand for use in liquid and powder packaging. The new plant will bring PRM Groups Evolue production capacity to 550 kt/y, including that at its plant in Ichihara, Japan.

With the establishment of a new company and construction of a new production facility in Singapore, PRM aims to solidify its position as the market leader in Asia, and target further expansion of its Evolue business. The project is expected to significantly contribute to growth of Singapores chemical industry.

"Singapore, with its well-established infrastructure and availability of critical feedstock, provides an excellent location for companies looking to meet their customers needs and create new business opportunities", said Mr Leong. "We are pleased that Prime Polymer has chosen Singapore as its base to grow its Evolue business in Asia. When fully realized, Singapore will account for half of Prime Polymers global production capacity for Evolue. Prime Polymers confidence in Singapore reflects Jurong Islands attractiveness to leading chemical companies looking to tap into Asias growth"

PRM will accelerate overseas expansion of highly functional products, in which it excels, as a growth strategy under its FY2011 Mid-term Business Plan. Evolue metallocene polymer is defined as a core business in this strategy. PRM will strengthen its position as Asias leading polyolefin producer by continuing to meet and satisfy dramatically growing Asian customer needs and demands through its state-of-the-art, world-class production facilities for Evolue.

About Mitsui Chemicals

Mitsui Chemicals, Inc. was founded in 1997 and consolidates about 12,782 employees. Mitsui Chemicals responds to the ever-increasing demands of the chemical industry. It has 3 branches namely Nagoya branch, Osaka branch and Fukuoka branch. While intensifying voluntary power-saving to conserve energy which is in serious shortage, through its manufacturing activities it will provide essential supplies to those in disaster areas as its ongoing effort to contribute to society.