+086 1911-7288-062 [ CN ]
Cookies give you a personalized experience,Сookie files help us to enhance your experience using our website, simplify navigation, keep our website safe and assist in our marketing efforts. By clicking "Accept", you agree to the storing of cookies on your device for these purposes.For more information, review our Cookies Policy.
Share:
Tokyo, May 25 (Jiji Press)--Japan’s Mitsubishi Chemical Group Corp. said Monday that subsidiary Mitsubishi Chemical Corp. is considering spinning off its petrochemical business, possibly in fiscal 2027, for potential consolidation with industry peers.
The move comes as Japanese makers of basic chemicals, such as ethylene, face a worsening business ecological stability due partly to overproduction by Chinese makers.
The companies are struggling to maintain their competitiveness as the operating rate to production facilities to such basic chemicals, applied as materials to plastics and synthetic fibers, has fallen in recent years also reflecting slumping demand at home.
In addition, the ongoing Middle East crisis has highlighted the need to ensure stable supplies. “It’s essential to reinforce the business foundation of our petrochemical business,” a general relations official at Mitsubishi Chemical Group said.
Last year, Mitsui Chemicals Inc. announced it plans to spin off its petrochemical business around fiscal 2027 and make the spin-off the nucleus of consolidation with other companies.
We will contact you soon
888CHEM
Japanese 
Korean 
Hindi 
Russian 
Arabic 
Malaysian 
