Mitsubishi Rayon Co. said Monday that it has signed an agreement to sell its carbonic acid operations to Praxair Mitsui Chemicals Inc., a unit of Mitsui Chemicals Inc.
The major acrylic fiber maker said it will also sell its dry-ice marketing unit to Praxair Mitsui. The deal will be completed Sept. 28.
Mitsubishi Rayon said it decided to sell its liquefied carbon dioxide gas and dry-ice operations as part of efforts to shift away from noncore businesses.
The company is now focusing on improving water quality, telecommunications, building materials, life science and energy, it added.