МОSCOW (MRC) -- Petroquimica Mexicana de Vinilo (PMV), a 56-44 joint venture between Mexichem (Tlalnepantla, Mexico) and Petroleos Mexicanos (Pemex; Mexico City), has declared force majeure on vinyl chloride monomer (VCM), muriatic acid, ethylene, ethylene dichloride, and anhydrous hydrochloric acid, according to a letter addressed to customers, said Chemweek.
The declaration follows an explosion on 20 April in a "VCM-ethylene plant within the Chlorinated Unit 3' at PMV's operations at the Pajaritos production site at Coatzacoalcos, Mexico, according to the statement.
The plant produces some 900 tpd of vinyl chloride monomer, also known as chloroethene, an industrial chemical used to produce plastic piping. The joint venture had forecast sales of USD260 million this year.
Earlier on Friday, Mexichem CEO Antonio Carrillo told Reuters that the company had declared force majeure on one internal contract in the wake of the blast. He said Mexichem would have a better idea of the impact of the blast on the company in the coming weeks.
Mexichem, of Tlalnepantla, an industrial municipality close to Mexico City, is Latin AmericaпїЅs largest manufacturer of PVC pipe, vinyl resins and compounds. The company has annual revenues of more than USD5 billion and has been listed on the Mexican Stock Exchange for more than 30 years.
Pemex, Mexican Petroleum, is a Mexican state-owned petroleum company. Pemex has a total asset worth of USD415.75 billion, and is the world's second largest non-publicly listed company by total market value, and Latin America's second largest enterprise by annual revenue as of 2009. Company produces such polymers, as polyethylene (PE), polypropylene (PP), polystyrene (PS).
MRC