19 June 2008 04:35 [Source: ICIS news]
SHANGHAI (ICIS news)--Formosa Chemical and Fibre Corp (FCFC) Ningbo is ramping up operating rates at its 300,000 tonne/year acrylonitrile-butadiene-styrene (ABS) plant after its fire-induced shutdown on 10 June, a source close to the company said on Thursday.
"The plant is in the process of resumption and adjustment and we expect it to run at a rate of 50% by the end of June," the source said adding the shutdown did not impact the market prices, as there was ample supply.
The company shut down the plant on 10 June after a fire in its storage tank
The company, owned by Taiwan-based Formosa, is located in Ningbo city, in the eastern Chinese province of Zhejiang.
Paris Lv of CBI contributed to this article
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