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Mitsubishi and Asahi Will Form Limited Liability Partnership to Run Mizushima Crackers

6:53 AM MST | February 23, 2011 | Ian Young

Mitsubishi Chemical and Asahi Kasei have decided to establish a 50-50 limited liability partnership (LLP) for the integrated and unified management of their naphtha cracking operations at Mizushima, Japan. The companies announced the plans in May 2010. Mitsubishi and Asahi intend to create the LLP, dubbed Nishi Nippon Ethylene, on April 1, 2011. It will be headquartered in Tokyo. The partnership will downsize naphtha cracking capacity at Mizushima by 2012, based on a forecast 30% decrease in local ethylene demand. Mitsubishi and Asahi's Mizushima crackers each...

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