Taiwan's Formosa not resume No.3 cracker until Nov end

14-Nov-08
Owing to declining demand of petrochemicals amid slowing global economy, Taiwan's Formosa Petrochemical Corporation has decided not to resume operations at its No.3 ethylene cracker until the end of November. The company discontinued the cracker operations in start of September quoting scheduled maintenance as a reason. The date of cracker resumption is not yet fixed. The Taiwanese company witnessed a seep decline in Q3 profits due to nose-diving prices affecting inventory values.
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