• Most Popular
  • Most Shared

UDPATE 1-Shin-Etsu plans $822 mln plant for PVC in US-paper

Tue May 29, 2007 7:49pm EDT

Stocks

   

(Updates with spokesman comment)

TOKYO, May 30 (Reuters) - Japan's Shin-Etsu Chemical Co. (4063.T) plans to invest 100 billion yen ($822 million) to build a plant in the U.S. to make raw materials for polyvinyl chloride (PVC), the Nikkei business daily said on Wednesday.

Shin-Etsu is one of the world's top makers of PVC, a plastic used in pipes and other construction materials.

Shin-Etsu has been relying on Dow Chemical Co. (DOW.N) for supply of the raw materials to make PVC, and would like to increase the percentage of materials it makes on its own, the paper said.

Shin-Etsu spokesman Tetsuya Koishikawa said the company was considering building a plant but would not comment on details of the plan. He said an official announcement was due later in the day.

Shin-Etsu will open the PVC materials plant as early as 2010 in a lot next to a PVC factory located in Texas and operated by Shintech Inc., its wholly owned unit, the paper said.



More from Reuters

Photo

Accused 9/11 plotters may face NY "Guantanamo"

NEW YORK (Reuters) - If the men accused of plotting the September 11 attacks wonder what conditions they might face when they are moved to New York from Guantanamo Bay for trial, they can expect solitary confinement, 23-hour-a-day lockdowns, constant video surveillance and almost no visitors.

» More Top News
A broker waits for a phone call as he trades on the dealing floor at ICAP in Jersey City, New Jersey December 9, 2009. REUTERS/Lucas Jackson

Easy come, easy go

After a run of easy money this year, fund managers cast a wary eye on investment prospects in 2010.  Full Article 

Investment Outlook Summit

"I don't think this is the bottom. We're going to have more problems in the world economy. We're papering over the problems more than anything else."

Well-known investorJim Rogers,
on the sinking greenback and the fundamental problems with the U.S. economy
    Currencies