India’s Somaiya plans to reduce etac run rates in mid-July

22 June 2012 07:53  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Somaiya Group is planning to reduce the run rates at its ethyl acetate (etac) plants in Maharashtra to about 50% of capacity in July this year during an annual turnaround, a company source said on Friday.

Somaiya operates two etac plants – a 30,000 tonne/year unit at Mahad and an 80,000 tonne/year plant at Sakarwadi.

The etac plants are currently running at 80% of capacity, according to the source.

Somaiya plans to reduce the plants’ operating rate to 50% of capacity for maintenance works to be done from 10-30 July, the source said.

During this period, the company will still be able to continue supplying etac to regular contract customers from its existing inventory, he said.

Domestic etac prices in India are at India rupees (Rs) 49-50/kg  ($0.87-1.03/kg) EXW (ex-works) in June, compared with Rs56-58/kg in May, in line with weak buying interest as well as an uncertain market outlook, the source added.

Other Indian etac manufacturers include Jubilant Life Sciences and Laxmi Organic Industries.

($1 = Rs56.3)

By: Samuel Wong

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