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| April 24, 1996 |
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| Acrylic Acid and Acrylic Ester Project in Thailand |
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| Mitsubishi Chemical Corporation |
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Mitsubishi Chemical Corporation (MCC),in Japan, announced an acrylic acid and
ester project in Thailand.
MCC is working jointly with the Thai Olefins Company (TOC) and Lenso Holding Company
(LC)to finalize a detailed feasibility study. A new company called Asia Acrylates
Company (AAC) will be formed for this project, located at the Map Ta Phut Industrial
Estate in Ray on Province, Thailand. AAC will produce 60,000 tons of acrylic acid
and 100,000 tonsof acrylic esters, with plant operation to commence in the 1st
quarter of 1998.
The total investment will be approximately 100 million dollars, with MCC and TOC
each having a 37.5% equity share. The remaining 25% equity share will be provided
by LHC. The raw propylene material will be supplied by TOC, and the alcohol will
be supplied by the Oxonol Thailand Company (OTC), a Thai-MCC joint venture.
MCC is implementing a worldwide strategy, utilizing the world's most advanced
acrylic acid and ester technologies. MCC has already licensed its acrylic acid
and ester technology to companies in Huels, Germany; Sokolok, Czech Republic;
Jilin and Shanghai, China; and in other locations. The Asia Acrylates Company
(AAC) is MCC's first joint venture company which is being formed as parts of its
worldwide strategy.
The demand for acrylic acid and esters is growing rapidly in Asia, Europe and
the UnitedStates. In particular, growth in demand in the Asian region, including
China, exceeds 20%.
| For further information, please contact |
| Public Relations Dept., |
| Mitsubishi Chemical Corporation |
| Tel: [+81] 3-3283-6274 |
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