6 November 2013
Details
Japan Ethyl Acetate Co.,Ltd. (JEA),
Owned by Showa Denko 55 % and KH Neochem 45 %,
was established in August 2003
for the purpose of strengthening the foundation
of the two parents companies' ethyl acetate businesses
and began commercial production in April 2004
with production capacity of 100,000 tons per year.
Unfavorable Business Environment
While demand for ethyl acetate has grown inside and outside
Japan since then, the business environment has changed dramatically,
* reflecting the rise in raw material costs and
* capacity expansion in neighboring countries.
Under the circumstances,
Showa Denko and KH Neochem have conclude that
it is difficult to continue JEA's operations.
Thus, the two companies have agreed to
stop ethyl acetate production at JEA and dissolve the company.
Production will be stopped by the end of 2014.
After demolition and removal of the production facility,
JEA will be dissolved and liquidated without delay.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
