Dec 1, 2005- Kaneka announced on December 1 that it has decided to set up two subsidiaries in Vietnam by the end of December. To be capitalized at $900,000, KSS Vietnam Co., Ltd. will handle spices, herbs, and processed food materials for commercial use. Kaneka Pharma Vietnam Co., Ltd., which is to be capitalized at $2 million, will mainly produce catheters as the company’s medical equipment arm. Kaneka plans to invest about 200 million yen ($1.7 mil) in KSS Vietnam and about 150 million yen ($1.2 mil) in Kaneka Pharma Vietnam. Both subsidiaries will be located in the Vietnam Singapore Industrial Park. Kaneka, which already has its Vietnamese chemicals subsidiary Vina Showa established in 2003, aims to leverage the establishment of the two new firms to expand its presence in Asia.
