Japanese chemical company Mitsui Chemicals Inc., (MCI) recently announced to exit sales and production of C9 petroleum resin (trade name: PETROSIN) by March 2010. The activities of C9 petroleum resin are currently being conducted under the Coatings & Engineering Materials Division of the Performance Materials Business Sector. The reason for this step is attributed to the sharp increases in feedstock prices in recent years driving down the cost performance of the same.
MCI announced to focus on 'high profitability' for growth of its Performance Materials Business Sector in the Mid-term Business Plan, which commenced in FY 2008 and accordingly expand its functional polymer business and restructure its business portfolio. The Coatings & Engineering Materials Division will assure future business growth through concentration on polyurethane and polyolefin based coating materials and adhesives, and development and reinforcement of highly functional, added value products.