23 December 2012

Mitsubishi Corporation to Establish New Metals Resources Trading Subsidiary in Singapore

- RtM International will be a 100% subsidiary company of MC
- Serve as headquarter for MC’s global metals resources trading

21 December 2012 - Mitsubishi Corporation (MC) announced the decision to establish a new metals resources trading subsidiary company, Mitsubishi Corporation RtM International Pte. Ltd., in Singapore as well as the decision to transfer MC’s metals resources trading businesses to its 100% subsidiary company, Mitsubishi Corporation Unimetals Ltd. (Unimetals), by means of an absorption-type company split. 

MC will establish RtM International, a 100% subsidiary company of MC, in Singapore, which will serve as the headquarter for MC’s global metals resources trading once it starts business operations with effect from April 1, 2013. 

RtM International will be the hub of MC’s metals resources trading and will mainly be responsible for developing strategies including but not limited to those that capture the growth potential in emerging markets around the world starting with markets in Asia, including China or India. In order to fulfill this role, MC seeks to improve the level of its response to markets and the service it provides to customers by restructuring its operations beyond the traditional commodity-based approach to include trading functions, thereby strengthening its operations overall. 

RtM stands for “Resources to Market”. MC named the new subsidiary company RtM International due to its objective of realizing sustainable growth over the medium to long term through capacity enhancement which enables it to effectively bridge the gap between producers and end-users and to add value to the whole supply chain. 

In conjunction with the establishment of RtM International, MC has decided to transfer its trading businesses of ferrous raw materials, including Iron Ore, Metallurgical Coal, Thermal Coal, Nickel, Ferro-Chrome, Molybdenum, as well as its trading business in non-ferrous metals, including Copper Concentrates, Lead Concentrates, Zinc Concentrates and Precious Metals, to its 100% subsidiary company, Unimetals, via an absorption-type company split. Unimetals is a trading company which currently specializes in non-ferrous metals, including Aluminum Metals and Alloys, Copper, Tin, Lead, Zinc, Ferro Alloys, Rare Metals and Rare Earth, Heat Exchanger Materials, Non-Ferrous Products, Store, Housing and Building Materials, but will, with effect from April 1, 2013, expand its business portfolio by integrating the aforementioned businesses, and the company name will be changed. The tentative name is Mitsubishi Corporation RtM Japan Ltd. Restructuring operations beyond the traditional commodity-based approach to include trading functions is expected to result in the strengthening of operations and the level of support provided to customers within the Japanese market. 

Source: Mitsubishi Corporation