26 February 2014 07:44 [Source: ICIS news]
SINGAPORE (ICIS)--Japan’s Mitsui Chemicals will permanently shut its 95,000 tonne/year bisphenol A (BPA) plant in Ichihara, Japan in March, a company source said.
Mitsui Chemicals has decided to terminate operations at the BPA plant as part of the company’s plan to restructure its phenol and BPA business, the source said.
The profitability of phenol and BPA has suffered over the last two years as the market became oversupplied after a rapid increase in BPA plant start-ups and expansions, according to the source.
Mitsui Chemicals currently has another BPA unit in Osaka, Japan which has a capacity of 65,000 tonnes/year and the plant will mainly be supplying BPA to the Japanese market.
The company will be concentrating on building its presence in the Japanese domestic market and reduce its participation in the export market to China, the source added.
The company earlier released an official statement on its website that it will permanently close its phenol plant in the same area.
The company will also be suspending a 75,000 tonne/year BPA line in its Singapore BPA plant as part of the restructuring, the source said.
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