Tokyo - Polyplastics Co. has decided to increase its equity stake in Topas Advanced Polymers GmbH (TAP) to 51% from 45% currently.

TAP, jointly operated with Daicel Corp., will become a subsidiary under Polyplastics Group management.  Subject to clearance by competition authorities, the raised equity stake is expected to become effective 1 Apr. 2017.

"The aim of this maneuver is to generate synergy with business fields other than the production and sales of cyclic olefin copolymer (COC) currently advanced by TAP, as well as to align with business development in Europe and North America, thereby bolstering the caliber of overall group-wide collaboration," said Polyplastics.

"In positioning COC as its fifth core business arm, Polyplastics will be seeking further business expansion on the strength of seamless integration of COC, conventionally advanced as an independent organization under the New Business Development Division, with its existing core business segments," the company added.