MOSCOW (MRC) -- Mitsubishi Chemical UK has confirmed the closure of its methyl methacrylate (MMA) plant at Billingham (Cassel), UK, said the company.
The decision comes following a period of over two months of collective consultation with its employees. The company stated in a press release in November announcing its consultation that the “economic sustainability of UK manufacturing operation of methacrylates in an increasingly competitive global market cannot be achieved”.
The MMA plant had been offline since January 2022, initially for a planned maintenance shutdown. Since then, the impact of soaring and volatile natural gas prices because of the war in Ukraine, a “significant downturn in the European economy as a result of high inflation” and underlying weak demand in the MMA market has seen this shutdown extended.
The Billingham plant has a capacity of 200,000 tonnes/year, began operating in 1930 and produces methacrylic acid and higher methacrylates.
We remind, Mitsubishi Chemical Group (the MCG Group) announces that it will start verification testing of a scheme for collecting acrylic resins from end-of-life vehicles, with the goal of commercializing molecular recycling operations for acrylic resin in collaboration with Tokio Marine & Nichido Fire Insurance Co., Ltd. and ABT Corporation1.