Tokyo – Mitsui sees its joint venture with Korea's SKC Polyurethanes as a key part of its basic materials business unit's future strategy, CEO Tustomu Tannowa has confirmed.
Systems houses in MCNS JV key to Mitsui future
Tannowa was explaining his company's H1 2018 financial performance. The company spans areas as diverse as mobility, healthcare, packaging and basic materials, where polyurethanes are accounted.
It looks set for record high operating income over 2018 after strong good performance in the first half.
The basic materials division includes Mitsui Chemical Industry's share of the MCNS joint venture, a separate toluene diisocyanate business, phenol and terephthalic acid anhydrite and PET businesses, as well as naphtha crackers.
This experienced healthy domestic demand, but operating rates were lower than the first half of 2017 because of a fire at the company's business in Osaka, South Japan.
The MCNS joint venture now has 11 systems houses,Tannowa explained. He gave the company's production capacities shown in the table.
|MCNS PU Raw materials: sites and capacities|
|1 Vithai, jv MCNS and Jayant Agro-Organics|
|Source: Mitsui Presentation|
|Mitsui Chemical H1 2018 (JPY bn)|
|Basic Materials||H1 2018||H1 2017||% change|
|Source: Mitsui Chemicals|