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High ethylene prices force OUCC to cut EG production
17
Jun '08
Oriental Union Chemical Corp (OUCC), a leading chemical provider in Taiwan, has plans to cut 10 to 20 percent of its 250,000 tons annual production capacity of Ethylene Glycol (EG) production. This is mainly due to high price of upstream ethylene and weak demand from downstream chemical fiber industry. The company is unable to fully pass the pressure to downstream sector.

OUCC performed well for the year of 2007, with total annual sales revenues of 13,368,722 thousand NTD, significantly increasing from 2006.

Strong market demands, continuing in 2008, have resulted in an increase of 104 percent in sales revenues to 1.6 billion NTD; and 215 percent in net earnings to 510 million NTD in the specialty chemical area for the first quarter this year.

This has strongly demonstrated that the strategy to transform OUCC from EG as its main product to diversity including EA, EC and other specialty chemicals has been successfully implemented.

Oriental Union Chemical Corporation

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