07 August 2009 14:29 [Source: ICIS news]
TORONTO (ICIS news)--Mitsubishi Rayon on Friday acknowledged an industry report about plans for a methyl methacrylates (MMA) acrylic glass joint venture with Saudi Arabia’s SABIC but declined to provide details.
“The company will immediately announce any developments with respect to this matter as they occur,” it said in a short statement.
The report, carried by some Japanese newswires, cited unidentified industry sources as saying that Mitsubishi Rayon and SABIC were planning to build an MMA plant in Saudi Arabia, with a capacity of up to 250,000 tonnes/year and with start-up planned for 2013.
In May, Mitsubishi Rayon completed its $1.6bn (€1.1bn) acquisition of UK-based MMA producer Lucite.
($1 = €0.70)
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