26 February 2014 08:23 [Source: ICIS news]
SINGAPORE (ICIS)--Japan’s Mitsui Chemicals plans to close down its 75,000 tonne/year bisphenol A (BPA) line at its Singapore facility from March for several years as part of its restructuring plans, a company source said on Wednesday.
The Singapore facility has two other BPA lines with a combined production capacity of 155,000 tonnes/year, which will continue to operate normally, the company source said.
Mitsui Chemicals will also permanently close down its 95,000 tonne/year BPA plant in Ichihara, Japan in March as part of an overall reform, the source added.
Mitsui Chemical is restructuring the company’s phenol and BPA business as spikes in production costs have undermined profits in recent years, the source explained.
The suspension of the 75,000 tonne/year line will enable the company to focus on the domestic BPA market and maintain a healthier demand and supply balance, the company source added.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections