Mitsubishi Chemical UK has announced in its latest annual report that following a global review of Mitsubishi Chemical’s methacrylate business in October 2022, and a consultation with employees at its Cassell site in Billingham, UK, it will close the methacrylate production at the Cassell site. Over 200 jobs are likely to be affected.
This is due to the “significant increase in natural gas prices” but also the downturn in the European economy due to high inflation and instability from the war in Ukraine having a detrimental effect on the demand for methacrylate monomers. Mitsubishi Chemical has 10 other methacrylate monomer plants around the world and has also delayed an investment decision into a new methyl methacrylate plant in Louisiana, USA.
Workers at Mitsubishi’s separate electrolyte business at the same site, which is used for electric vehicle battery parts, are not affected.
Mitsubishi Chemical Group’s European HQ is in Germany. The group has 69,784 employees in total – with around 40,000 in Japan and 30,000 outside, of whom around 4,000 are in Europe, according to our estimates.
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