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TOKYO — Mitsubishi Chemical Holdings today announced that it will close one of two ethylene plants at its Kashima complex in eastern Japan as part of a cost-cutting effort, Reuters reported.
The company is closing the plant’s No.1 ethylene unit, but will boost the capacity of the plant''s No.2 unit by 50,000 tons per year, raising it to 540,000 tons per year, in 2013.
Mitsubishi Chemical, seeking to cope with a stronger yen, said it will also halt its No.1 benzene plant at the Kashima complex in 2014.