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Mitsubishi Eyes Olefins Restructuring

10:26 AM MST | December 15, 2008 | Ian Young

Mitsubishi Chemical is considering plans to reduce its olefins capacity by closing permanently one of its naphtha crackers in Japan or coordinating its output with that of another producer, press reports say. The plan is a response to worsening demand forecasts for olefins in Japan due to the global economic slowdown. Mitsubishi may coordinate operations at its 450,000-m.t./year Mizushima, Japan cracker with those of Sanyo Petrochemical’s 470,000-m.t./year Mizushima cracker. Preliminary discussions between Mitsubishi and Asahi Kasei, Sanyo’s parent...

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