Volume 92 Issue 7 | p. 6 | News of The Week
Issue Date: February 17, 2014 | Web Date: February 14, 2014

Mitsui Slashes Operations

Restructuring: Major chemical company will shutter plants, seek to reverse years of losses
Department: Business
Keywords: Japan, restructuring, phenol, urethane, isocyanate

Seeking to shake up a business dependent on selling commodity chemicals in the stagnant Japanese market, Mitsui Chemicals is closing multiple plants in Japan and bringing in a new CEO.

With sales of $17.6 billion in the fiscal year ending March 31, 2013, Mitsui is one of Japan’s largest chemical companies. However, it has not turned a profit for three of the past four years and expects to lose money again in the . . .

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