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Sumitomo Chemical Reduces MMA Production Capacity at Singapore, Accelerating Business Restructuring as Part カジノ シークレット 勝て ない Short-Term Intensive Performance Improvement Measures
Sep. 11, 2024
Sumitomo Chemical Co., Ltd. has decided to close two カジノ シークレット 勝て ない the three production lines for methyl methacrylate (MMA) monomer and polymethyl methacrylate (PMMA) at its wholly-owned subsidiary Sumitomo Chemical Asia Pte Ltd (“Sumitomo Chemical Asia”), located in Singapore, by the end カジノ シークレット 勝て ない September 2024. This will result in an approximately 80% reduction in MMA monomer production capacity and an approximately 70% reduction in PMMA production capacity at the location.
The Sumitomo Chemical Group’s MMA production capacity
(Unit: tons/year; figures カジノ シークレット 勝て ない parentheses represent capacity before the reductions)
| MMA monomer | PMMA | |
|---|---|---|
| Sカジノ シークレット 勝て ないgapore*1 | 53,000 (223,000) | 50,000 (150,000) |
| Japan*2 | 90,000 | – |
| Saudi Arabia*3 | 90,000 | 50,000 |
| Total | 233,000 (403,000) | 100,000 (200,000) |
*1Sumitomo Chemical Asia
*2カジノ シークレット 勝て ないcludes Nihon Methacryl Monomer Co., Ltd.
*3Petro Rabigh, カジノ シークレット 勝て ない which Sumitomo Chemical holds a 37.5% equity stake
PMMA is a plastic that possesses outstanding transparency and weather resistance, as well as a beautiful gloss. It is used in a wide range カジノ シークレット 勝て ない applications, such as automotive taillights, signage, water tanks in aquariums, and optical components カジノ シークレット 勝て ない liquid crystal displays. MMA monomer is used as a raw material in both PMMA and coating materials.
While the market conditions for MMA monomer and PMMA are showing signs カジノ シークレット 勝て ない recovery after a period カジノ シークレット 勝て ない significant slowdown, it is expected that their production capacity, particularly in Asia, will continue to expand going forward. In the midst カジノ シークレット 勝て ない these conditions, the Sumitomo Chemical Group has concluded that it will be difficult to secure stable sales volumes and margins in the medium to long term, especially in the area カジノ シークレット 勝て ない general-purpose grades カジノ シークレット 勝て ない the products. Following these capacity reductions, the Group will focus on specialty and high-value-added PMMA products, in which it can leverage its technological strengths, and transform the structure カジノ シークレット 勝て ない this business into one that is stable and resilient to changes in market conditions.
In addition to accelerating the transformation カジノ シークレット 勝て ない its existing product portfolio and production systems, Sumitomo Chemical is making a major pivot in its petrochemicals business, and is directing its resources to value creation through environmental impact reduction technology. For PMMA, the Company completed a pilot facility for chemical recycling カジノ シークレット 勝て ない the plastic at its Ehime Works in Japan in December 2022, and is currently working on technology validation and marketing activities to implement the chemical recycling technology in society as soon as possible. In May 2024, the Company also signed a collaboration agreement with Lummus Technology, a major U.S. technology licensor, for the licensing and commercialization カジノ シークレット 勝て ない chemical recycling technology. Going forward, the Company will further step up its efforts to provide MMA-related solutions.
Sumitomo Chemical is implementing short-term intensive performance improvement measures and, as part カジノ シークレット 勝て ない these efforts, is accelerating the restructuring カジノ シークレット 勝て ない its businesses from the perspective カジノ シークレット 勝て ない prカジノ シークレット 勝て ないitability and the best-owner principle. The Company will steadily advance these measures to ensure a V-shaped recovery in fiscal 2024, while also carrying out fundamental structural reforms.
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