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Mitsubishi Chemical, partners to delay polyethylene ops consolidation - report

INSIGHT

TOKYO (AFX-ASIA) - Mitsubishi Chemical Corp, Showa Denko KK, Tonen Chemical and Japan Petrochemicals will delay the planned consolidation of their polyethylene operations into a single entity to 2003 from the original plan to establish a new firm in spring 2002, the Nikkan Kogyo Shimbun reported, without citing sources.

The delay has arisen due to a deadlock over the handling of Nihon Unicar, a joint-venture between Tonen Chemical and Dow Chemical of the US, which was not included in the original consolidation scheme, it said.

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Source: AFX 2002-06-20

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