Mitsubishi Mulls Cracker JV; Quits Petchem Businesses

Mitsubishi Chemical is taking steps in line with restructuring its flagging petrochemical business. The company says it is studying the possibility of merging its naphtha cracker operations at Mizushima, Japan with that of Asahi Kasei’s; is planning to quit the caprolactam and styrene monomer businesses by 2010 and 2011, respectively; and has signed a deal with DSM to swap their respective nylon and polycarbonate businesses. “The petrochemicals business environment is expected to be increasingly severe, since an intensifying competition against...

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