09 January 2012 08:59 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) will shut its 450,000 tonne/year polypropylene (PP) plant in Ningbo at China’s Zhejiang province in late January because of weak demand, a company source said on Monday.
Downstream demand is expected to drop because of the upcoming Lunar New Year holiday on 22-28 January in China.
FPC’s 170,000 tonne/year line at the plant will be shut from 19 January to 31 January and its 280,000 tonne/year line at the same site will be taken off line from 20 January to 31 January.
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