17 January 2013 05:26 [Source: ICIS news]
SINGAPORE (ICIS)--Mitsui Chemicals and Prime Polymer will further expand their polypropylene (PP) production capacity in the US by 14,000 tonnes/year by the fourth quarter, the Japanese firms said in a joint statement on Thursday.
The plant operated by Ohio-based Advanced Composites Inc currently has a 226,000 tonne/year PP capacity, which will increase by 28,000 tonnes/year in the third quarter. By the fourth quarter, the capacity will have increased to 268,000 tonnes, the companies said.
Financial details of the expansion were not disclosed.
The expansion is being pursued to meet growing demand from the automotive materials sector, they said.
“Although the North American automobile industry was negatively impacted by the global financial crisis, currently the market has returned to normalcy with forecasts of significant growth in the future,” Mitsui Chemicals and Prime Polymer said.
Advanced Composites has productions facilities in Ohio and Tennessee.
The US firm is 59.8%-owned by Mitsui Chemicals America Inc – a subsidiary of Japan’s Mitsui Chemicals – while Prime Polymer has a 3% stake.
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