The Japan-headquartered chemical company Sumitomo Chemical has announced a significant reorganisation of its business structure, which will take effect on October 1, 2024. The company plans to streamline its current five business sectors into four, aiming to better address societal challenges related to food, information and communication technology (ICT), healthcare, and the environment.
The restructured organisation will feature four key sectors: Agro & Life Solutions, ICT & Mobility Solutions, Advanced Medical Solutions, and Essential & Green Materials.
The ICT & Mobility Solutions sector will integrate IT-related chemicals with high-purity aluminium and alumina, speciality chemicals, high-performance engineering plastics, and battery materials from the Energy & Functional Materials sector. This move reflects Sumitomo's focus on supporting advancements in ICT and mobility technologies.
Sumitomo is also forming the Essential & Green Materials sector to further align with global sustainability trends. This sector will oversee industrial aluminium and alumina, functional polymers, and the essential chemicals and plastics businesses. It is a key part of the company's shift towards a more environmentally responsible business model with a reduced ecological footprint.
Sumitomo Chemical's new structure reflects its commitment to adapting to societal needs while promoting sustainable growth and innovation.
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