Partners plan to cut capacity for vinyl chloride at Kashima petrochem complex

Mitsubishi Chemical Corp and four manufacturing partners are planning to cut capacity for vinyl chloride resin materials at Japan's biggest petrochemical complex, as per the daily Nikkei. Currently the plant is being operated at 50-70% run rates. Declining domestic petrochem demand and production lines damaged by the disaster in March, make it difficult to maintain current output levels. Three of the partners -Asahi Glass, Kaneka Corp and Adeka Corp, will sell their stakes in the venture by March, but will help in capacity reduction and shoulder 7-10 bln yen (US$91-$130 mln) in related costs together. Two other partners- Mitsubishi Chemicals and Shin-Etsu Chemical Co will remain at Kashima but will reduce output capacity by 30-50%.
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