Showa Denko to close down Tokuyama etac plant by late June

21 May 2010 06:35  [Source: ICIS news]

SINGAPORE (ICIS news)--Japan’s Showa Denko plans to close down its ethyl acetate (etac) plant in Tokuyama, Yamaguchi prefecture, by late June, a company source said on Friday.

The plant had 150,000 tonnes/year of etac capacity.

Decision for the shutdown was made a few months back, based on the business climate in Japan, said the source.

Imports had surged and the cost of imported etac was lower to that of the domestic product, he added.

Etac prices fell amid sluggish demand and bearish market sentiment during the week, according to ICIS Pricing. In southeast Asia, prices declined $20-30/tonne (€16-24/tonne) to $900-920/tonne CFR SE Asia on subdued buying interest.

The company has another 100,000 tonne/year etac plant in Oita, Japan, and a 50,000 tonne/year plant in Merak, Indonesia.

($1 = €0.80)

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By: Staff Reporter
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