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Mitsui Chemicals’ loss widens

8:24 AM MDT | May 13, 2014 | Deepti Ramesh

Mitsui Chemicals reports a net loss of ¥25.1 billion ($245 million) for the fiscal year, ended 31 March, compared with a net loss of ¥8.1 billion in the previous fiscal year. This loss is mainly due to restructuring expenses of ¥25.7 billion for the planned plant closures in the polyurethane (PU) and phenol businesses. Mitsui, in February, announced a major restructuring in response to volatility in the PU and phenol markets. The restructuring will close several production facilities in Japan. Mitsui’s full-year sales increased 11.3%...

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