Japan's Ube Construction Materials forms sales unit in Vietnam

Economy

Japan's Ube Construction Materials Co. set up a subsidiary in Ho Chi Minh City in March to sell waterproof agents and other construction materials in Vietnam and other Southeast Asian countries. Ube Construction Materials, a Tokyo-based wholly owned unit of chemical giant Ube Industries Ltd., said Monday it owns a 51 percent stake in the new local arm, Ube CT Construction Materials Vietnam Co., which has an initial capital of $753,100. The rest of the stake is held by two other Japanese companies -- 37.5 percent by T. Chatani & Co., a subsidiary of chemical goods trading house OG Corp., and 11...

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