02 August 2013 16:18 [Source: ICIS news]
LONDON (ICIS)--Asahi Kasei Chemicals and Mitsubishi Chemical have agreed to study consolidating their naphtha crackers at Mizushima in ?xml:namespace>
The two companies’ cracker operations at Mizushima could be “unified” by early 2016 under the Mitsubishi cracker and run as an equal joint venture, Asahi said in a statement on its website.
A feasibility study on the cracker consolidation is expected to be finalised by the end of March 2014.
Asahi said that in increasingly tough conditions for petrochemicals in
“The operating climate for petrochemical operations is expected to become increasingly severe with contracting domestic demand, expanding supply capacity in the Middle East and
“[The companies] judged that there is an increasing necessity to establish the optimum production configuration for highly efficient operation by unification on a single naphtha cracker for the two parties in Mizushima in order to strengthen competitiveness and enhance earnings ability,” it added.
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