The transaction was achieved through a redemption, with CMCC purchasing shares from Mitsubishi Chemical Corp.
CMCC, a joint venture between Calgon Carbon Corp and Mitsubishi Chemical Corp, had sales of ¥6.7 billion (US$77.7 million) in 2009. CMCC’s name has now been changed to Calgon Carbon Japan KK (CCJ).
Calgon Carbon Corp is scheduled to acquire the remaining 20% of the company on 31 March 2011.
Leroy Ball, chief financial officer at Calgon Carbon, who will serve as CCJ’s interim president said: “Increasing our ownership of the joint venture more than doubles the sales revenue in our Asian region. It also adds an experienced workforce and infrastructure in Japan which we hope to leverage throughout the rest of Asia to help execute our growth strategies in that region.”