Asahi Kasei closes Thailand factory

Asahi Kasei closes Thailand factory 

Asahi Kasei released the latest news that the company's shareholders' meeting resolved to terminate the operation of its subsidiary PTT Asahi Chemical Co, Ltd (PTTAC) and dismantle its factory facilities. It is planned to end production on October 31, 2024, end sales on December 31, 2024, and dismantle the factory facilities from 2025 to 2028.  

It is reported that this PTTAC was established in 2006. It is a joint venture in Thailand in which Asahi Kasei and PTT Global Chemical Public Company Limited (PTTGC) each hold a 50% stake. It mainly produces and sells acrylonitrile (AN) produced by the propane process, methyl methacrylate (MMA) produced by the ACH process, and ammonium sulfate, mainly supplied to Southeast Asian customers.

The main reason for the closure is: starting from around 2022, as the economic environment continues to be sluggish and raw material costs rise, the company's competitiveness has declined. In addition, due to the increase in production capacity in China, the deterioration of the supply and demand balance has led to unfavorable profitability. The two companies believe that it is difficult for PTTAC to continue to move forward with good operations.

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