South Korea' KP Chemical cuts PET op rate amid weak market

20 August 2009 09:22  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korea’s largest polyethylene terephthalate (PET) bottle-chip producer, KP Chemical, is running its Ulsan plant at a reduced rate of 80% due to soft business conditions, a company source said on Thursday.

“We started cutting back our operating rate gradually since the beginning of the week and we are currently running at 80%,” the source said, adding that the plant was previously operating at 100%.

KP Chemical’s Ulsan facility in southeastern Korea has four lines with an annual capacity of 400,000 tonnes of PET bottle chips.

Major PET producers in Asia include Reliance, SK Chemicals and Indorama.

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By: Yu Guo
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