Home / Knowledge / News / Textiles / Study for unification of naphtha cracker operations in Mizushima
Study for unification of naphtha cracker operations in Mizushima
02
Jun '09
Mitsubishi Chemical Holdings and Asahi Kasei are studying the unification of the naphtha cracker operations of Mitsubishi Chemical Corp. (subsidiary of Mitsubishi Chemical Holdings, hereafter collectively “Mitsubishi Chemical”) located in Mizushima and the naphtha cracker operations of Asahi Kasei Chemicals Corp. (subsidiary of Asahi Kasei, hereafter collectively “Asahi Kasei”) located in Mizushima. If as a result of this study an agreement is reached to proceed with such unification, an additional announcement will be made without delay.

Formulating measures to heighten competitiveness has become an urgent imperative for the Japanese petrochemical industry, particularly since the broad decline in demand which began last autumn as an effect of the global economic crisis, and with the prospect of significant global overcapacity as large-scale petrochemical facilities are scheduled to begin operation shortly in the Middle East and elsewhere.

Mitsubishi Chemical and Asahi Kasei have together implemented a range of measures to heighten the competitiveness of their petrochemical complexes located adjacently in the Mizushima industrial zone of Kurashiki, Okayama, Japan, both independently and in concert with the Research Association of Refinery Integration for Group-Operation (RING).

It was nevertheless determined that only the unification of naphtha cracker operations would enable the establishment of an optimum and efficient production and management configuration which would raise competitiveness and secure profitability such that long-term survival may be ensured in the face of increasingly severe global competition. Essentials of the study under consideration

• Mitsubishi Chemical and Asahi Kasei to establish a joint-venture company to perform unified operation of their respective naphtha crackers in Mizushima.
• The optimization of naphtha cracker facilities will be effected within three years. The specifics of any consolidation of facilities are undecided at this time. Study will proceed in consideration of relationships with the customers of the two parties.
• Derivatives from the products of naphtha cracking are excluded from the scope of the present study. Each party will independently determine its own optimum production balance.

The two parties are committed to advancing this study as swiftly as possible, and plan to sign a letter of intent at such time as agreement is reached.

Mitsubishi Chemical Holdings

Must ReadView All

Textiles | On 22nd Feb 2017

Bangladesh exporters want duty-free access to US, Brazil

Garment and apparel exporters of Bangladesh are seeking duty-free...

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search