Mitsubishi Chemical closing methyl methacrylate plant north of Nederland
BEAUMONT — A Beaumont plant located on Twin City Highway north of Central Gardens and the city limits of Nederland is terminating operations by the first quarter of 2021.
Mitsubishi Chemical Corporation made the announcement in a press release, adding the plant is set to close by Feb. 28.
There was no initial information provided about employee terminations or transfers or the amount of staffing this is impacting.
The plant produces methyl methacrylate monomer and methacrylic acid. According to the company, the site has a production capacity of 135,000 Mtpa.
The Beaumont site is owned by MCC’s Texas subsidiary Lucite International.
The company said the site was closed to optimize its “supply chain in keeping with demand and supply trends for raw materials.”
For the fiscal year ending March 31, 2021, the Japanese firm has “factored” an impairment loss of around $230 million due to the shutdown and associated costs.
Based in Tokyo, Japan, Mitsubishi Chemical Corporation was formed in 2017 following the merger of Mitsubishi Chemical Corporation, Mitsubishi Plastics and Mitsubishi Rayon.
The company provides various solutions for performance products and industrial materials.
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