MOSCOW (MRC) -- Denka Singapore Co Ltd has announced that it would discontinue the production of DENKA STYROL GPPS after 22 years in business, according to CommoPlast with reference to the company's official statement.
The production of the seven (7) grades had been suspended by the end of November 2020. The final sales of these cargoes took place by the end of December 2020.
Denka cited the cease of general purpose polystyrene (GPPS) production in order to optimize the overall operation of the plastic business. The company would switch to produce Ms resin (Methyl. Methacrylate Styrene Copolymer).
Denka Singapore Co Ltd is one of the major polystyrene (PS) producers in the Southeast Asia region with an annual capacity of 200,000 tons of GPPS.
As MRC reported earlier, in September 2020, Denka Company Limited announced that as part of its initiatives to reduce greenhouse gas emissions based on its ESG management policy, it had decided to invest approximately 3.7 billion yen in the installation of high-efficiency gas turbine power generation facilities for private power generation at its Chiba Plant (Ichihara-shi, Chiba), its core petrochemical production plant. Through the introduction of facilities such as these, Denka will facilitate the reduction of greenhouse gas (CO2) emissions by at least 12,000 tons annually and accelerate its efforts to realize a sustainable society.
According to MRC's ScanPlast report, Russia's estimated consumption of PS and styrene plastics totalled 454,990 tonnes in the first eleven months of 2020, which corresponds to the last year's figure. November estimated consumption of PS and styrene plastics in Russia grew by 4% year on year to 45,830 tonnes.