Formosa Plastics to shut down US MEG plant

12 August 2008 05:30  [Source: ICIS news]

SINGAPORE (ICIS news)--Formosa Plastics’ US subsidiary, Formosa Plastics Corp USA, will shut down its 300,000 tonne/year monoethylene glycol (MEG) line for 40 days in September for maintenance, said a source close to the company on Tuesday.

"The plant at Point Comfort in Texas state will be closed for a catalyst change. After the shutdown, the plant will not be run at full [rate] as downstream demand cannot justify it," the source added in Mandarin.

Formosa Plastics Corp USA would stop exporting its cargoes to Asia after September due to poor margins, the source said but did not reveal what percentage of the plant’s output was sold to Asia.

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By: Hong Chou Hui
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