V-Tech closes Japan PVC unit on low profits

02 June 2008 10:10  [Source: ICIS news]

SINGAPORE (ICIS news)--V-Tech Corp, Mitsubishi Chemical’s  (MCC) Tokyo-based subsidiary, has closed its polyvinyl chloride (PVC) unit in Mizushima, Okayama prefecture on 28 May because of declining profits, a source close to the company said on Monday.

 

The 110,000 tonne/year PVC unit was closed in accordance to a company announcement made early-April, but the Mizushima chlor-alkali plant will continue to produce vinyl chloride monomer (VCM) and caustic soda, the source said.

 

The Mizushima plant produces in a year 180,000 tonnes of caustic soda and 400,000 tonnes of VCM, the latter of which will be used as feedstock in its other two PVC units in Yokkaichi and Kawasaki.

 

With the shutdown, V-Tech’s PVC capacity will fall from 304,000 tonnes/year to 204,000 tonnes/year.

 

V-Tech is a joint venture between MCC and Japanese chemical producer Toagosei, in which MCC holds an 85.1% share. 

 

For more on PVC and VCM, visit ICIS chemical intelligence

 

By: Ng Hun Wei
+65 6780 4359

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