Japan Polystyrene, Inc. (JPS), a company jointly operated by Mitsui Chemicals, Inc. and Sumitomo Chemical Co., Ltd. ha announced to quit polystyrene business and will be dissolved due to rise in polystyrene feedstock prices and shift in production bases of its customers. According to the company statement, the demand for polystyrene has plummeted across major areas including electrical appliances and electronics, industrial applications and miscellaneous goods, and this demand is not expected to bounce back in the future.
JPS plans to discontinue operations at both its Osaka and Chiba plants at the end of September of this year, after which the company will be dissolved. Concerning the supply of its products, JPS will continue to sell its inventory in the interim and will also request the cooperation of other companies in the same industry if customers so desire in order to exit the business without causing much inconvenience to customers and others concerned.
03-Apr-09 
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