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MEGlobal announces Asian July price at $1,100/MT
18
Jun '15
Ethylene glycol manufacturer MEGlobal has announced that its Asian Contract Price (ACP) for monoethylene glycol (MEG) will be US$ 1,100/MT CFR Asian main ports for arrival in July 2015.
 
The company’s announcement of contract price for July is based on the current market situation, and the short term supply/demand situation in the Asian market.
 
Last year, MEGlobal initiated FEED study for construction of new MEG manufacturing facility to be built on the US Gulf Coast. The plant is expected to be on stream in 2018. 
 
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. (RKS)
 

Fibre2fashion News Desk - India

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