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MEGlobal increases MEG Asian contract price for Sept'14
25
Aug '14
Ethylene glycol manufacturer MEGlobal has announced that its Asian Contract Price (ACP) for monoethylene glycol (MEG) will be US$ 1180/ton CFR Asian main ports for arrival in September 2014, up from August ACP of $1150/ton.
 
The company’s decision to hike the contract price for September is based on high planned turnarounds in the near future, the unplanned turnarounds that have occurred recently, and the net short term supply/demand consequences in the Asian market.
 
Established in 2004, MEGlobal is a joint venture between The Dow Chemical Company of the United States, and Petrochemical Industries Company (PIC) of Kuwait. MEGlobal is one of the world’s leading suppliers of MEG and diethylene glycol (DEG), collectively known as ethylene glycol (EG). 
 
With approximately 200 employees worldwide, MEGlobal serves customers around the world, and has production facilities in Fort Saskatchewan and Prentiss in Alberta, Canada.
 
EG is used as a raw material in the manufacture of polyester fibers, polyethylene terephthalate resins (PET), antifreeze formulations and other industrial products.
 

Fibre2fashion News Desk - India

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