MITSUBISHI CHEMICAL CORP. continues to shed or reorganize unprofitable U.S. manufacturing operations acquired as part of a late 1980s' diversification strategy (see Japan-U.S. Business Report No. 347, August 1998, p. 3 and p. 5). Its latest move is the sale of SERADYN, INC., a maker of infectious disease diagnostic reagents and test kits as well as uniform latex particles used in the production of diagnostic reagents, to ALEXON- TREND, INC. for a reported $6.9 million. MCC acquired the Indianapolis, Indiana supplier in 1989. The 125-employee company has sales of about $12 million a year, but it has been unable to break out of the red. New Brighton, Minnesota-based Alexon-Trend, which is in the same business as Seradyn, is a SYBRON INTERNATIONAL CORP. company.
An exchange rate of ¥145=$1.00 was used in this report.