TOKYO—Tokai Carbon Corp. has acquired full ownership of Thai Tokai Carbon Product Co. Ltd. (TCP) with the purchase of the 5 percent stake it previously did not own.
TCP was established in 1989 as a carbon black manufacturing and selling company through a joint venture consisting of several companies in Thailand.
In 1990, Tokai Carbon started a technology licensing agreement with TCP and acquired a 25 percent interest. It subsequently acquired 95 precent ownership.
Making TCP a wholly owned subsidiary "will further strengthen management and technology exchanges at [Tokai Carbon] and strive to improve quality and service in southeast Asia where future growth is expected," TCP said in a statement.