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chem366——
· planned to close in december 2020
· maintain the continuity of bdo supply to japanese customers
· continued commitment to bdo global clients
the
chiba, japan——august 19, 2020, idemitsu co. ltd. (hereinafter referred to as “bic”), a joint venture between ag (hereinafter referred to as “”) and idemitsu kosan co., ltd. (hereinafter referred to as “bic”) “ikc”) will close its 1,4-butanediol (“bdo”) plant in chiba, japan. the joint venture agreement between and idemitsu will be terminated thereafter.
the
‘s decision to close the bic plant by mutual agreement with ikc is part of ‘s global assessment of long-term options for assets in its bdo value chain. there are 21 employees in the bic factory, and each employee will be assigned to other jobs in ikc or group in japan.
the
has production plants for bdo and its derivatives in asia, north america and europe, and will continue to supply bdo from its global plants to japanese customers currently supplied by bic.
the
“as one of the leading bdo and derivatives businesses, we will continue to provide high-quality product support to our clients globally. the recent steps are part of our strategy to ensure that we further enhance our competitiveness in the market to enhance long-term value for our customers’ businesses and ,” said vasilios galanos, senior vice president asia pacific, intermediates.
the
masaru saitoh, president of bic, explained: “due to the shrinking size of the japanese bdo market and the severe overcapacity caused by recent investments in new coal-based bdo production bases in asia, the closure of the chiba plant has become inevitable.” bic is in consultation with all customers contact to support its smooth transition.
the
bdo and its derivatives are important chemical raw materials for the production of engineering plastics, polyurethane, solvents and elastic spandex fibers.
