Mitsubishi Chemical Corporation (MCC; Head office: Chiyoda-ku, Tokyo; President: Masayuki Waga), a parent company of Mitsubishi Chemical Media Co., Ltd. (MCM; Head office: Chiyoda-ku, Tokyo; President: Masahiro Taguchi) today announced an agreement to transfer its storage media business, including the optical disc, USB flash drives and other businesses globally operated by Verbatim group companies affiliated with MCM, as well as MCM’s related assets, to CMC Magnetics Corporation (CMC; Head office: Taipei, Taiwan; President: Ming-Sen Wong).
CMC, established in 1978, engages in the storage media market, and is the world leading manufacturer in optical discs. It has established a solid partnership with MCC over a long period through the licensing of technology for optical disc production.
While MCC has been moving to intensify the Mitsubishi Chemical Holdings Group’s business portfolio management based on the Group’s medium-term management plan “APTSIS 20,” CMC expects to enhance the storage media business not only through its own production technology, but also by building upon the MCC Group’s accumulated global sales network, technology, and so on, making the agreement advantageous to both parties.
Comments from Clive Alberts, President Verbatim EUMEA:
“The change of ownership of Verbatim makes a lot of sense for Mitsubishi Chemical, CMC Magnetics and also Verbatim. For MCC, the Verbatim brand has increasingly become peripheral to its core B2B chemical business, and this transfer aligns well with the company’s mid-term management plan. For CMC, by vertically integrating, it gives them a great opportunity to further strengthen their position in optical media, but also to diversify into other categories and channels that are already being serviced by Verbatim’s global sales and marketing operation.”
“For Verbatim, we get a dynamic new owner that will help to grow our business, reinforcing our strong position in the storage industry, but also to use our infrastructure and local sales and marketing expertise to expand into new areas.”
“In Latin, the word “verbatim” means “word for word”, and since our foundation, this name has helped us to express our overriding principles of accurate, error free recording of data. With this transfer of ownership, these core company values of quality and reliability that have sustained our success for the last 50 years will continue to be at the heart of everything we do, giving peace of mind to customers knowing that they are purchasing technology they can trust.”