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Recently, Mitsui Chemicals said it would increase its MDI production capacity in South Korea by 50%
.
Kumho Mitsui Chemicals produces MDI in Yeosu, a Seoul-based joint venture with South Korean synthetic rubber manufacturer Kumho
Hashimoto Osamu, President and CEO of Mitsui Chemicals, revealed when introducing the company's annual report in early June that he plans to increase MDI production capacity by 200,000 tons per year by 2024
.
This means an investment of 400 billion won (360 million U.
The increase in production capacity from 410,000 tons/year to 610,000 tons/year is to cope with the expected growth in high-performance monomer MDI applications
.
Including applications in the automotive sector, people’s growing preference for in-vehicle comfort, luxury car seats and NVH applications is driving growth
Mitsui Chemicals also shared its growth strategy for the next ten years
.
It envisages that operating income will rise from 200 billion yen ($180 billion) in 2025 to 250 billion yen in 2030
Despite the challenges of increasing protectionist policies, global polarization, increasing national risks and global changes, the company plans to invest 1.
8 billion yen in the ten years from 2021 to 2030
.
The restructuring plan of its basic chemicals business has made progress, reversing major losses
.
The company plans to continue to focus on structural reforms, reduce volatility, stabilize earnings and improve competitiveness
