Mitsubishi Campaign Update: 12/4/96
12/4/96
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Headline: Mitsubishi Campaign Update: 12/4/96
Source: Rainforest Action Network
Date: 12/4/96
Mitsubishi Hauling It In
Mitsubishi's AL-PAC mill (the largest bleach kraft pulp mill in the
world) in Alberta has recently implemented a new policy of hauling
logs with B-trains (double trailer logging trucks) only. This causes
a tremendous waste of trees in the boreal forest as B-trains cannot get
into the bush unless bigger and better roads are built. At the same time,
Mitsubishi has stepped up its public relations efforts, sending Al-Pac's
chief forester to various national and international conferences to promote
so-called "ecosystem management." At the heart of the propaganda is the
sadly outdated and discredited notion that massive clearcutting with heavy
machinery mimics boreal fire ecology.
Western Canada Wilderness Committee in Alberta is working to counter this
misinformation. (TAIGA Rescue Network Bulletin No. 5 1996)
Bank Mergers
April 1, 1996 sealed the merger of the Bank of Tokyo with the
Mitsubishi Bank, creating the Bank of Tokyo-Mitsubishi, and with $500
billion in operating funds and $725 billion in annual assets has become
the largest bank in the world. There is some speculation as to whether the
bank will achieve their dream of becoming the bank of the future, or just
another colossal financial institution!
On a local level, the Bank of Tokyo's Union Bank and Mitsubishi's
Bank of California followed suit in amalgamating as their parent banks did.
The Union Bank of California is now the third largest commercial bank in
California, with over 257 offices in CA, Oregon, Washington and 16 overseas
facilities. The Bank of Tokyo-Mitsubishi owns 81% of common stock in the
Union Bank of California.
Pac Bell and Mitsubishi go wireless
Pacific Telesis Group's Pacific Bell Mobil Services will buy $50
Million in wireless phones manufactured by Mitsubishi Wireless
communications Inc. The new phones will operate on Pac Bell's Personal
Communications Services or digital wireless network, presently under
construction in California and Nevada. The phones will be sold to consumers
and co-branded by Pacific Bell Mobil Services and Mitsubishi.
Moon Mission?
Mitsubishi Corp. is the first company to enter into a contract with
LunaCorp with the aim of sending discerning robotic vehicles to the moon,
on behalf of corporate sponsors, television networks and science
researchers.
The amount of the contract has not been disclosed, but part of the contract
includes tours of Mitsubishi Corp's Tokyo office for potential customers.
Nuclear Site
A site on the Muria Peninsula, 450km east of Jakarta has been proposed
as the first nuclear power plant in Indonesia to be established by the year
2004.
Results from a five year feasibility study are confidential. The
pressurized water reactors would be produced by Mitsubishi of Japan and
Westinghouse of the US.
Mitsubishi Corp. and AT&T
A joint venture is underway by several of the world's largest
communications companies, which includes AT&T to create "One Number
Service" in Japan. Mitsubishi Corp. is included as one of the partners.
Mitsubishi Chemical Corporation Projects include:
*manufacture of acrylic acid, a material used in composites of disposable
diapers in Thailand;
*Exxon Chemical Co. agreed to design and build a multi-million dollar
advanced color thermoplastics compounding facility in Jeffersonville,
Indiana
*three companies from the Mitsubishi Group (Mitsubishi Gas, Mitsubishi
Chemical and their joint venture Mitsubishi Engineering Plastics) finalized
plans for a polycarbonate joint venture in Thailand
Mitsubishi Corp. of Japan Ventures include:
*building a coal-fired power plant at Cilacap, a Japanese port town
*launching a joint venture with a Malaysian state-owned oil company to
produce petrochemical products in Malaysia
Mitsubishi Heavy Industries
Together with Mitsubishi Corp., MHI has agreed with China's foremost steel
maker to build steel production and equipment for steel plants.
Mitsubishi Motors Corp. Ventures include:
*a company was set up and began production during July in China to produce
commercial vehicles
*a study is currently underway to see whether engines could be produced for
automobiles in China
*Volvo and Mitsubishi discuss a possible deal to produce cars in the US
DiscoverWare Inc.
A deal was made with the UK government, specifically to the
Department of Trade and Industry, for $460,000, for DTI to supply
DiscoverWare products as part of the computing solution to small businesses
in the UK DiscoverWare are producers of multimedia products based out
of Alberta, Canada, and whose distributor in the UK is Mitsubishi.
Legal Charges Filed Against Mitsubishi Heavy Industries
Dressor-Rand filed dumping charges against Mitsubishi Heavy Industries Ltd.
in May 1996. Supposedly Mitsubishi sold large industrial compressors in
the US market well below market value.
The compressors in question are used for the production of ethylene and
ammonia. Other Japanese companies, Hitachi and Kobe Steel also produce
the compressors, but only Mitsubishi has a suit filed against them.
Mitsubishi Oil Caught in Scandal
Tokyo prosecutors raided the offices of Mitsubishi Oil and also
arrested an Osaka Oil wholesaler on allegations of tax evasion.
The raid on Mitsubishi Oil and arrest of Mr. Junichi Izui, an oil
wholesaler known for connections with high-ranking politicians and with
finance and trade ministry bureaucrats, are expected to shed light on a
complicated scheme involving huge payments allegedly made to Mr. Izui by
Mitsubishi Oil.
The authorities also searched the homes of the chairman, president
and vice-president of Mitsubishi Oil, a refiner belonging to the Mitsubishi
conglomerate, which alleged to have paid Mr. Izui about $52.8 million for
unaccounted business transactions.
(Financial Times 11.08.96)
Rainforest Action Network
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