Ningbo PTMEG plant of Mitsubishi Chemical Company will put into production in 2009

Mitsubishi Chemical Company announced currently that they will independently set up a production and sale company of polytetramethylene ether glycol (PTMEG), raw material of synthetic spandex fibre, in Ningbo Daxie Development Zone, in order to meet for increasing market requirement in Asia, including China.

The temporary decided name of the company is MCC New Polymer Products (Ningbo) Co.,Ltd., which has a capital of 2 billion JPY. 3 billion JPY will be invested in Ningbo to set up a PTMEG plant with a production capacity of 25 thousand tons a year, and the plant is prepared to put into production in April, 2009.