Ticona's Topas cyclo-olefin copolymer (COC) venture has lost US$62m over the past two years, and the fuel cell business lost US$12m in 2003 alone. These losses have influenced a decision by Ticona to give up its COC business, as well as its Pemeas fuel cell joint venture. Ticona's decision to quit COC is another blow for new engineering polymers segment.
This closure joins several new polymers launched over the last decade that failed to achieve expected sales projections. Dow has ended production of its Questra polymer and Shell shelved its Carilon and Carilite polyketone polymers in 2000 after failing to find a buyer for the business.