Japan Mitsubishi Chem plans consolidation of naphtha crackers

Further deterioration in demand over the next couple of years amid a global economic meltdown is compeling several key petrochem players to rethink their strategies. As ethylene makers in Japan, South Korea and Singapore have carried out drastic cuts in run rates in recent months to cope with waning demand, Japan's top ethylene maker, Mitsubishi Chemical Holdings Corp is considering consolidation of its naphtha crackers, possibly with other players in the region. Mitsubishi operates two ethylene plants in Japan- one in Mizushima, and the other in Kashima, is in the same industrial complex as Asahi Kasei Corp's naphtha cracker. Asahi Kasei, also running its plants at 80% capacity, has also acknowledged a need to support its dwindling ethylene business.
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