Tokyo -- Mitsui Chemicals has pinpointed “severe conditions” overseas as the cause for a downturn in demand for polyurethane materials.
The company’s Q1 2015 report said PU sales increased 2.8% to YEN 38.5bn compared to Q1 2014. The firm’s Q1 2015 sales were identical to sales income from Q4 2014.
It reported 2014 full year sales at YEN 154.8bn but the report said that on the basis of its current outlook, total sales in 2015 were not expected to be higher than YEN 123bn. If the company’s prediction is accurate, sales will have dropped by 20% year on year.
The report highlighted the construction of a PU plant at Omuta – production facility for new aliphatic isocyanates from Fortimo and Stabio – as previously reported at UTECH-polyurethane.com. It said that the plant could be producing 2KT/year from August 2016.
XE Currency conversion: 6 August, 2015
1 USD = YEN 124.808