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Mitsubishi Chemical Holdings ( (JP:4188) ) has issued an announcement.
Mitsubishi Chemical Group has decided to discontinue plans for a new MMA monomer plant in Louisiana due to the capability of meeting immediate demand with existing facilities and challenges in securing long-term customer commitments amid rising capital investment costs. This decision will lead to an anticipated loss of around 20 billion yen in the fiscal year ending March 2025 due to impairment losses, though the company will continue to pursue growth strategies and optimize its production systems.
More about Mitsubishi Chemical Holdings
Mitsubishi Chemical Group Corporation operates in the chemical industry, focusing on the production of methyl methacrylate (MMA) monomers. These are essential raw materials used in various applications such as automobile lamp covers, signboards, paints, and building materials. The company aims to enhance its competitiveness by optimizing its global production system and focusing on high-value applications.
YTD Price Performance: 0.10%
Average Trading Volume: 3,022
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $7.21B
See more data about 4188 stock on TipRanks’ Stock Analysis page.
