Asahi Kasei Corp., Japan's fifth largest petrochem maker by market value, estimates net income of 58 billion yen (US$502 million) for the year ending March 31, 2006. Increasing sales and cutting costs to cope with higher raw material prices will contribute to this growth.
Asahi Kasei plans to spend 400 billion yen ($3.47 billion) in the six years uptil 2010 in overseas expansion.
Asahi is mulling construction of an acrylonitrile plant, using propane gas in Southeast Asia, at a cost of about 50 billion yen. The new unit is planned to start in 2008. Asahi Kasei, the second-biggest acrylonitrile producer after BP Plc, aims to expand capacity by 40% to about 1 million metric tpa.
28-Oct-05 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}