2013 Exhibitions
PetChem to cease PVC production
In line with its portfolio optimisation, Malaysia’s Petronas Chemicals or PetChem is discontinuing its vinyls business, comprising two plants in Malaysia and one in Vietnam by 2013, it said in a recent filing to the Malaysian Stock Exchange.
The firm said the discontinuation of the business will result in a charge of RM560 million in the fourth quarter of 2013, which it says relates to decommissioning and site remediation expenses. The cease in production is due to unsatisfactory business and also since the unit is not closely integrated within the group’s product value chain, said PetChem.
The three plants produce vinyl chloride monomer (VCM) and PVC.
(PRA)
